Is Carillion a Signal that the UK Economy is Heading Towards Another Financial Crisis?

Is Carillion a Signal that the UK Economy is Heading Towards Another Financial Crisis?

News broke yesterday in the UK that Carillion, a British multinational facilities management and construction services company which employs over 40k people worldwide, had issued a statement saying that rescue talks with stakeholders including the British government had collapsed.

Carillion employs 20,000 people in the UK and has debts totalling around £2bn and a shortfall of almost £600m in its pension fund.

Roughly three quarters of Carillion’s sales come from the UK, where it has hundreds of contracts with the government.

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