U.K-based construction and services giant Carillion has gone into liquidation, putting thousands of jobs and millions of pounds’ worth of British government contracts at risk. Carillion employs more than 6,000 people in Canada and 40,000 around the world.
Philip Green, the company’s chairman, said in a statement: “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.”
Carillion has been struggling to reorganize for the past six months amid debts of about 900 million pounds (CAD$1.54 billion) and a pension deficit of 590 million pounds. Carillion’s share price has plunged 70 per cent in the last six months.
Carillion Canada is the country’s largest road service contractor. Canadian contracts range from highway snowplowing in Ontario and Alberta, to property maintenance for hospitals, airports and malls across the country.
Carillion Canada says it’s not in liquidation and it’s business as usual in Canada despite the parent company’s collapse on January 15, 2018.
“Our employees, subcontractors and suppliers in Canada continue to be paid and we remain committed to delivering safe, quality services for our clients. Our Canadian leadership is currently assessing the situation and working with stakeholders to ensure continuity of operations,” according to company spokesman Cody Johnstone.
