You will surely have heard by now that this month the building giant Carillion collapsed appearing to owe millions to its creditors.

Backhouse Jones – the specialist transport solicitors – have said: “A winding up order was made against Carillion Plc and other companies in its group on 15 January 2018 and the court appointed the Official Receiver as the liquidator. This basically means that Carillion has gone bust. If the demise of Carillion is likely to affect your business, we recommend getting specialist advice and acting quickly. For more information, please contact a member of the Backhouse Jones team on 01254 828300.

The Business Secretary issued the following press release on 18th January:
‘The Business Secretary Greg Clark has today (18 January 2018) welcomed the decision by several banks to set up funds to support small businesses affected by Carillion’s insolvency.
Today, Lloyds Banking Group has launched a £50 million fund, HSBC a £100 million fund and RBS has made £75 million of assistance available. It follows a meeting held by Greg Clark yesterday with banks where he discussed further support and advice that could be provided by the banks for small businesses affected by Carillion’s liquidation.
Greg Clark said: “I welcome this quick and positive move by banks including Lloyds, HSBC and RBS. This follows my meeting with the banks yesterday where I challenged them to see what further support they could provide for SMEs affected by Carillion’s insolvency. It is essential that small businesses exposed are given the support they need by their lenders, and I look forward to other banks following suit”.
HMRC has also outlined the support being offered to those businesses contracted to Carillion that may be concerned about their ability to pay tax. HMRC are providing practical advice and guidance to those affected through its Business Payment Support Service (BPSS). This follows action outlined by the Department for Business, Energy and Industrial Strategy to address concerns set out earlier this week

Published 18 January 2018
From:Department for Business, Energy & Industrial Strategy, HM Revenue & Customs, The Insolvency Service, and The Rt Hon Greg Clark MP