Recently, the giant British multinational facilities management and construction company Carillion recently faced compulsory liquidation– a court-based procedure through which company assets are realised for the benefit of creditors. A recent report by the UK Works and Pensions Committee concluded that the company’s rise and “spectacular fall” was a story of “recklessness, hubris and greed.” The company was a key contractor to the UK government with 43,000 employees worldwide and 19,000 in the UK involved in delivering some of the most essential infrastructure for the economy; from NHS hospitals to new roads. The demise of Carillion has emphasized the vulnerability of British main contractors and outsourcers. Its fall has caused losses to smaller business subcontractors and has wider implications for the construction sector and the economy in general. Could we have learnt anything from the past with regard to perhaps averting the collapse of Carillion?
The Collapse of Carillion: What Can History Teach Us? Could we have learnt anything from the past with regard to perhaps averting the collapse of Carillion?
The Historian
