Extracts from an article by Edwin Morgan at Director magazine
“With the giant service provider in liquidation and fellow contractor Capita losing more than half of its market cap, these are dark days for the outsourcing industry. Edwin Morgan, the IoD’s director of policy, sheds light on Carillion’s collapse and its consequences – and suggests a way to safeguard the private sector’s delivery of future public projects
At 6.40am on Monday 15 January, after a 40-minute hearing conducted over the phone, a High Court judge in London issued a winding-up order for what had, until then, been the UK’s second-largest construction contractor. With that, Carillion was handed over to the official receiver to see what could be rescued from the ruins.”[…]
“Tussell, a provider of public procurement data, calculates that Carillion was the government’s ninth-biggest supplier by contract value in 2017.”
Read the full article on the Director website.