Britain’s second largest construction firm Carillion used huge network of sub-contractors and local suppliers for its projects, paying them about £1bn per year, the annual report said.
The firm which employed 20,000 people in the UK, has gone bankrupt with debts of about £1.5bn.The comoany was invved into several public and priivate infrastructure projects.
While Cabinet Office Minister David Lidington has said that there would be government backing for public sector contracts, the private sector deals would get only two days’ support.
The head of the Federation of Small Businesses has said thousands of jobs and livelihoods are now in a blurred zone as those firms are stading back in a queue for payments.
Those who are related to the matter said the sell will not raise enough money. Hardly big bank credit would be met but small firms which are entitled to the paymenr will not be able to seeanything coming their way.