Carillion could enter administration on Monday unless UK backs rescue -Sky

Carillion could enter administration on Monday unless UK backs rescue -Sky
(Adds Carillion's no comment, detail)

LONDON, Jan 13 (Reuters) - British building and services company Carillion could enter administration on Monday unless Britain's government backs a rescue plan, Sky News reported on Saturday, citing sources.

Carillion said on Friday it remained in "constructive discussions" with its creditors and suggestions that they had rejected its business plan were incorrect.

A collapse of Carillion, which provides services to government departments including justice, health and education, and has built hospitals, roads and rail lines, would be felt across Britain and also in Canada and the Middle East where the 200-year-old company has worked on landmark projects.

Carillion declined to comment on Saturday's Sky News report, which said government officials are due to meet on Sunday to discuss the company's future.

Shares in Carillion plunged almost 30 percent to a new low on Friday after Sky News reported it had put administrators on standby, while a person familiar with the matter told Reuters that creditors did not like the plan put forward.

Tensions over the future of Carillion have been rising for weeks and on Thursday ministers overseeing everything from justice to transport, health and education met to discuss how they should respond to the possible demise of a business that plays a central role in British public life. (Reporting by Andy Bruce; editing by Alexander Smith)

First Published: 2018-01-13 14:58:07
Updated 2018-01-13 15:17:55

© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
Most read today
Most read yesterday
Send e-mail to for any enquiries or see Contact Details for phone numbers
Home   •   Terms & conditions   •   PAIA   •   Privacy Policy   •   Security Notice   •   Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.
© 2018 SHARENET (PTY) Ltd, Cape Town, South Africa