€d_Modus Vivendi schreef op 15 januari 2018 08:34:
Carillion goes into liquidation
Carillion has failed to reach a deal with creditors and is going into liquidation.
An application was made to the High Court for a compulsory liquidation of Carillion first thing this morning and an order has been granted to appoint the official receiver as the liquidator of Carillion.
PricewaterhouseCoopers is set to act on behalf of the official receiver.
Chairman Philip Green said: "This is a very sad day for Carillion, for our colleagues, suppliers and customers that we have been proud to serve over many years. Over recent months huge efforts have been made to restructure Carillion to deliver its sustainable future and the board is very grateful for the huge efforts made by Keith Cochrane, our executive team and many others who have worked tirelessly over this period. In recent days however we have been unable to secure the funding to support our business plan and it is therefore with the deepest regret that we have arrived at this decision. We understand that HM Government will be providing the necessary funding required by the official receiver to maintain the public services carried on by Carillion staff, subcontractors and suppliers."
Carillion made a pre-tax loss of bn in the first half of 2017. It has debts of bn and has a m pension deficit.
Last ditch talks were held with creditors on Friday. It issued a statement at 6pm Friday evening to say that: “Suggestions that Carillion's business plan has been rejected by stakeholders are incorrect. It is too early to predict the outcome of these discussions but Carillion expects that any such agreement is likely to involve the raising of new capital and the conversion of existing financial indebtedness to equity which would result in significant dilution to existing shareholders. As part of its engagement with stakeholders, Carillion is in constructive dialogue in relation to additional short term financing while the longer term discussions are continuing.”
That was Friday evening. Clearly it has been a bad weekend for Carillion and it has had to admit, finally, that the game was up