HS2 contractor Carillion goes into liquidation
A major contractor responsible for building part of the HS2 line has gone into liquidation
Carillion, a major supplier to the Government and named among the firms awarded deals for the building of phase one of HS2, met with lenders in the past few days to try to avoid collapsing.
The move came after talks between the firm, its lenders and the government failed to reach a deal to save the UK’s second biggest construction company.
Carillion ran into trouble after losing money on big contracts and running up huge debts.
Its failure means the government will have to provide funding to maintain the public services run by Carillion.
And it is thought that the company’s collapse could lead to major delays to the HS2 project.
The line will pass right through Burton Green, very close to Cubbington and Offchurch, and is likely to cause heavy traffic problems in nearby Kenilworth.
More to follow.