Carillion

Carillion watchdog report: how its ‘misleading’ finances were produced

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Last week, three former Carillion directors were landed with nearly £1m worth of provisional fines for what the Financial Conduct Authority (FCA) described as their roles in hiding the contractor’s sinking fortunes. Their actions amounted to “misleading [and] reckless […] market abuse”, the watchdog said. If it were not in…

Five jobs that killed Carillion: the £1.3bn lawsuit in detail

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A £1.3bn lawsuit against Carillion's former auditor, KPMG, was filed last week, revealing new details about how badly some of its jobs were going. To support the Official Receiver's (OR) case against KPMG, which alleges that the auditor did not sufficiently interrogate and challenge project information provided by Carillion's management,…

The cost of re-cladding – a financial blow that could prove worse than COVID

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Leaseholders facing big bills for remediation include many who themselves work in construction, but even those in the know have become powerless victims. Ian Weinfass investigates

Peter Vince had expected the consultancy he founded in 2011 would be growing strongly by now. Like everyone, he had not factored in a global…

Bam balances cranes, trains and Carillion’s legacy in Manchester

The second tower being built

Charged with finishing the second of two office towers inherited from Carillion in Manchester, the firm is overcoming a host of legacy issues

Project: 100 Embankment Client: Ask Real Estate Main contractor: Bam Contract value: £40m Contract type: Design and build Architect: Flanagan Lawrence Facade: Prater Structures and civils consultant:…

How are contractors dealing with debt addiction?

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Banks are still reeling from Carillion’s collapse and the industry is feeling the pinch. Where do tier ones go from here and has there been a more vigilant approach to finance reporting since?

Two years on from Carillion’s collapse, the aftershocks are still being felt. While the firm’s demise may not…

Why Carillion’s collapse hasn’t changed the industry

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“Liquidation. It’s gone.” This was the message that came through from a CN colleague at 6:53am two years ago today. Carillion’s race was finally run as it became the largest ever construction company to fail in the UK. I’ll never forget that soaking wet Monday and the chaos and fear…

Are specialists still on the up?

Skanska UK to sell Cementation piling business

In a market where some of the biggest tier ones are struggling and undertaking painful turnaround programmes, specialist contractors are thriving. That was the message of CN's 2018 specialists index, the most comprehensive annual look at the demolition, ground engineering, concrete, structural steel, M&E, building envelope and scaffolding markets. In a…

The hospital having emergency surgery

Royal Liverpool Hospital

The windows on the old Royal Liverpool Hospital looked grotty and tattered. As I entered the reception, the revolving doors moved with a crunch. As I waited in the main lobby for my guides to the new hospital, I was constantly shifting my position as the amount of people moving…

Carillion’s senior execs: Where are they now?

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Construction News has a look at the collapsed firm’s executive figures, examines their roles within the company, and finds out where they have been the past 12 months.

Richard Howson select committee 180206 1 Richard Howson: CEO, Jan 2012 – July 2017 Richard Howson was appointed CEO of Carillion in…