Reveals: Incomplete Peterborough Carillion projects as a company goes into liquidation
Peterborough City Council explores "the opportunities available to them" after the service giant Carillion was liquidated today (Monday).
The Company has a base at Manasty Road, Orton Southgate, Peterborough and its recent major contracts. The city involved the remodeling of Peterborough Railway Station and the new Hampton Gardens School by £ 43 million
It was still working on three school construction projects with the City council.
A spokesperson said that Carillion employees were on-site at work The expansion of Jack Hunt School and the planned new Hampton Lakes Elementary School as well as the planned new Heltwate Special School, which is being built in Newark Road, are both in the planning phase with Carillion.
Councilor Lynne Ayres, Cabinet Member for Education, Skills and University, said: "Carillion has a long association with the construction of high-quality school buildings in Peterborough, most recently Hampton Gardens Secondary School, which opened last September.The quality of work has always been very high good and delivered on time as well as on budget.
"As we are currently carrying out construction work with Carillion, we have communicated regularly with the company to understand its situation and the options available
" We will now consider these options and work with everyone involved to ensure the best results for the work in Peterborough. "
The troubled company, which employs 20,000 workers across the UK, said weekend weekend crisis talks aimed at reducing debt and supporting the balance sheet did not lead to the "short-term financial support" it needed to keep going to act while an agreement was reached. Carillion, with its £ 900 million in debt and a £ 590 million pension deficit, has plunged more than 70% over the last six months after making a series of profit warnings and breaching its financial obligations. His collapse raises questions as to why the group continued to receive government contracts, despite issuing a series of profit warnings. The government has called on the staff to continue and said: "Those who receive their pensions will continue to receive payments."
Carillions Chairman Philip Green said: "This is a very sad day for Carillion, for our colleagues, suppliers and customers we have been proud of for many years." In recent months, great efforts have been made to make Carillion one restructure sustainable future. The Board is grateful for the tremendous efforts made by Keith Cochrane, our leadership team, and many others who worked tirelessly during this time. "However, over the last few days, we have not been able to get financing to support our business plan, and we therefore deeply regret that we came to this decision." We understand that the UK Government will provide the necessary funds that the official beneficiary needs to maintain the public services operated by Carillion employees, subcontractors and suppliers. "
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