Carillion: Support for small firms ends in 48 hours

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http://www.bbc.com/news/business-42695661

Carillion: Support for small firms ends in 48 hours

40 minutes ago

Firms working for failed construction giant Carillion on purely private sector deals will only have two days of government support, Cabinet Office Minister David Lidington has warned. Carillion spent £952m with local suppliers in 2016 and used an extensive network of small firms, who are now waiting to learn if they will be paid.
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Trade body Build UK estimates that between 25,000 and 30,000 businesses are owed money by Carillion. It said that in the past, when other big contractors have failed, around 18% of businesses who were creditors did not survive the next five years.

A partner at one accountancy firm, who asked not to be named, said small firms were looking at total losses stretching into hundreds of millions of pounds. "Asset sales won't even raise enough to cover the debts of senior bank creditors, so many small firms won't see a bean," he said.
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[nitpicker]

1. More from DW

http://www.dw.com/en/british-government-under-pressure-over-carillion-collapse/a-42160174

[nitpicker]

2. Update from The Guardian

https://www.theguardian.com/business/2018/jan/16/carillion-small-firms-losses-liquidation-jobs