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key uk contractor carillion denies rescue plan in doubt

key uk contractor carillion denies rescue plan in doubt News Article With The full text news. The Resource Link is down the post and you can View this News Article in the source page.



key uk contractor carillion denies rescue plan in doubt

image copyrightcarillionimage caption carillion is the uk's second largest construction firm and employs 43,000 people globally troubled construction firm carillion has denied reports lenders rejected a proposed rescue plan for the business.the firm, which is a key government contractor for projects including schools and prisons, said crunch talks with stakeholders were still ongoing.the firm is struggling under £1.5bn of debt, including a pension shortfall of £587m, raising fears about its future.ministers are drawing up plans to take over prisons contracts worth £200m from carillion, the bbc understands.reports that creditors had turned down a potential rescue plan sent the firm's shares down by more than 28% on friday. administrator firms pwc and ey were also reported to have been put on standby as talks about the firm's future carry on.'constructive talks'in a statement, carillion said: "suggestions that carillion's business plan has been rejected by stakeholders are incorrect." it said the firm remained in constructive dialogue about short term financing while "longer term discussions are continuing". carillion also said turnaround proposals on the table were likely to cost shareholders.the government, the pensions regulator and representatives from the firm held crunch talks to discuss the firm's options on friday.what does carillion do?the company is the uk's second-largest construction company and a key government contractor. it employs 43,000 p...