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Carillion features and analysis
It’s amazing to discover that we still haven’t reached the bottom of the Carillion incompetence barrel.
The first half of 2018 was split into two contrasting quarters.
Carillion collapsed a few months after last year’s CN100 was published. In this year’s data, CN turned to new measures to gauge short-term stability and long-term liabilities and set about applying the critera to Carillion’s last set of accounts to find out if it was possible to predict the contractor’s demise
The accusations this month that collapsed subcontractor Vaughan Engineering had been using Carillion’s liquidation as a ‘smokescreen’ to hide its own poor payment record will not surprise many in the industry.
If you didn’t watch Channel 4’s Dispatches on Carillion last night but you read the CN Briefing, you didn’t miss much.
For much of the 70s and 80s, construction firms were among the most vulnerable businesses in the UK. With Carillion and late payment once again exposing the sector’s high-risk nature, Lucy Alderson discovers the realities being faced by subcontractors across the industry.
The government has moved to bring more social value into public procurement. What exactly is proposed and what will it mean for contracts?
This week NG Bailey’s chief executive David Hurcomb told me the decision to “walk away” from bids had been a key reason behind his firm’s profit growth.
Corporate pay packets are being scrutinised like never before. CN analysed the accounts of the biggest listed construction firms to reveal who earns the most among the top bosses.
Retentions are back in the spotlight following Carillion’s collapse, yet the industry is divided on how to take action. Why are retentions being abused and how should they be tackled?
The Carillion story so far…
It has been almost two months since MPs on the Carillion joint inquiry published their explosive report into the contractor’s collapse.
Has workforce wellbeing improved since CN revealed the results of its first mental health survey in April last year – or is it still under pressure? Lucy Alderson investigates.
Lucy Alderson sits down with Skanska UK chief executive Gregor Craig to discuss how to tackle mental health in the industry – and why the subject is close to his heart.
Carillion entered liquidation on 15 January and since then 2,352 of its former employees have lost their jobs – 12 per cent of the workforce. Yet the full impact of its demise is still to play out.
“We’re trying to be a bit boring at the moment,” a chief executive of a CN100 contractor told me at a recent event.
Carillion’s former interim chief executive Keith Cochrane has landed a new role at an engineering firm in northern Scotland.
Balfour Beatty has won the £10m early works contract on the stalled Midland Metropolitan Hospital in Birmingham.
The NHS trust behind the Midland Metropolitan Hospital is to meet prospective contractors vying to complete the former Carillion project.
Carillion: Key background
Carillion has been handed an extra four months to prove to its lenders it will not breach its financial covenants.
Carillion’s largest shareholder has sold off half of its stake in the troubled contractor and services provider.
Carillion has issued a fresh profit warning and confirmed that it expects to breach its financial covenants at the end of next month.
Carillion has agreed to sell its UK healthcare arm to services giant Serco for £50.1m as part of the contractor’s debt reduction and restructuring plan.
Carillion interim chief executive Keith Cochrane has revealed his firm has cut £10bn from its potential project pipeline as part of a new approach to winning work.
Carillion has reported a £1.15bn half-year loss and revealed it is setting aside an extra £200m provision for problem support services contract.
Carillion has made amendments to rules that previously allowed investors to claw back bonuses awarded to the contractor’s top executives, it has emerged.
Troubled Carillion has revealed a major shake-up of its executive team, including the departure of its finance chief Zafar Khan with immediate effect.
Former Carillion chief executive Richard Howson has moved back into his previous role of chief operating officer at the troubled company, but will still leave the firm within a year.
Transport secretary Chris Grayling has defended the choice of troubled contractor Carillion as one of the firms to build phase one of HS2.
Carillion has brought in accountancy giant EY to look at cost reduction and cash collection as part of a strategic review of the troubled business.
Carillion chief executive Richard Howson has stepped down with immediate effect as the firm has said it will be “undertaking a comprehensive review of the business” following a profit warning.
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