MPs blast Carillion bosses and accountants for part in firm’s collapse
The collapse of Carillion has been branded a “story of recklessness, hubris and greed” by a group of MPs, who have slammed the company’s “relentless dash for cash, driven by acquisitions, rising debt, expansion into new markets and exploitation of suppliers”.
The business, energy and industrial strategy (Beis) and work and pension committees published the findings of their inquiries into the failure of the outsourcing group, which went into liquidation in January after struggling to deal with problematic contracts and a growing debt pile.
The collapse of Carillion has been branded a “story of recklessness, hubris and greed” by a group of MPs, who have slammed the company’s “relentless dash for cash, driven by acquisitions, rising debt, expansion into new markets and exploitation of suppliers”.
The business, energy and industrial strategy (Beis) and work and pension committees published the findings of their inquiries into the failure of the outsourcing group, which went into liquidation in January after struggling to deal with problematic contracts and a growing debt pile.
The failure of the company put 20,000 UK jobs at risk – 2,301 of those roles have now been made redundant, with 11,618 saved and the rest hanging in the balance.
The Telegraph and The Times articles both focus on the so-called Big Four accountancy firms involvement in the “rotten corporate culture” at Carillion, with a second Times story diving deeper into the company’s “road to ruin”and the findings of the 101-page report.
Click here for the full Independent article
Click here for the full Guardian article
Click here for the full FT article (£)
Click here for the full Telegraph article
Click here for the full Times article (£)
Click here for the full Times article (£)
