Are you or your clients owed money by Carillion?…….Our top 5 tips……….

Are you or your clients owed money by Carillion? …. Our top 5 tips…

 Carillion went into liquidation on Monday and initial reports suggest that it is unlikely that there will be a return to the unsecured creditors.

Our concern is the effects that this will have on the 30,000 sub-contractors employed by Carillion and the impact the non-payment of the monies due from Carillion will have on their businesses.

Our top 5 tips;

  • Don’t panic – look at your short term cash requirements
  • Liaise with your key stakeholders including funders, suppliers and employees.
  • Assess if your business can survive without the Carillion contract
  • Document and monitor your business plan going forward
  • Take professional advice sooner rather than later – don’t forget that Redman Nichols Butler offer free, no obligation consultations.

If you have any clients in this position and would like a chat, please do not hesitate to call us at our Driffield, Scunthorpe or York offices.

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