Carrilion in trouble
Discussion
Outgoings outpacing income e dry month. Slow income on major projects. = £964 million short .
They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.
They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.
crankedup said:
Outgoings outpacing income e dry month. Slow income on major projects. = £964 million short .
They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.
It's 'Carillion'.They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.
I can't imagine they've been low-balling major projects for the fun of it, either. Chickens and roosting my arse.
2 sMoKiN bArReLs said:
That about sums up all these big companies in the construction/FM arena
Some are worse than others. Carillion is good at enforcing silly rules & then expecting the subbies to bail them out of self-inflicted problems. Even when told of potential future issues they bury their heads in the sand & are amazed when the predictions come true.Edited by Rovinghawk on Monday 20th November 19:05
Rovinghawk said:
2 sMoKiN bArReLs said:
That about sums up all these big companies in the construction/FM arena
Some are worse than others. Carillion is good at enforcing silly rules & then expecting the subbies to bail them pout of self-inflicted problems. Even when told of potential future issues they bury their heads in the sand & are amazed when the predictions come true.iphonedyou said:
crankedup said:
Outgoings outpacing income e dry month. Slow income on major projects. = £964 million short .
They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.
It's 'Carillion'.They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.
I can't imagine they've been low-balling major projects for the fun of it, either. Chickens and roosting my arse.
By coincidence, a couple of weeks ago my assistant QS popped into my office saying that Carillion have sent us an enquiry and asking if he should price it or if it was going to be dealt with by me.
I said that personally I wouldn't touch it with a barge pole due to i) Carillion's 90 day payment terms for its supply chain and ii) industry reports of their current dire financial issues.
I said that personally I wouldn't touch it with a barge pole due to i) Carillion's 90 day payment terms for its supply chain and ii) industry reports of their current dire financial issues.
2 sMoKiN bArReLs said:
Rovinghawk said:
I'm very familiar with them.
The root cause of their problem is a mixture of incompetence & arrogance. They mostly deserve what's coming.
That about sums up all these big companies in the construction/FM arenaThe root cause of their problem is a mixture of incompetence & arrogance. They mostly deserve what's coming.
cherryowen said:
By coincidence, a couple of weeks ago my assistant QS popped into my office saying that Carillion have sent us an enquiry and asking if he should price it or if it was going to be dealt with by me.
I said that personally I wouldn't touch it with a barge pole due to i) Carillion's 90 day payment terms for its supply chain and ii) industry reports of their current dire financial issues.
Clearly most of the posters in here have zero knowledge of this massive Company, surprising.I said that personally I wouldn't touch it with a barge pole due to i) Carillion's 90 day payment terms for its supply chain and ii) industry reports of their current dire financial issues.
If shareholders decide not to stump up this will possibly implode the Company causing a major restructuring. With so many major projects in harness this may well result in chaos
We did some work via another contractor for Carillion a few years back. We refused to work direct as there was no way we were going to wait four flippin’ months for payment. Very glad we did, the contractor we worked for got stuffed big time for six figures.
Poor choices definitely hitting home. Reap what you sow etc.
Poor choices definitely hitting home. Reap what you sow etc.
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