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.