Sustainability in the construction industry has taken a bit of a knock with the news that Carillion has gone into receivership.
It is sending shock waves through the industry and there are important lessons to be learnt so that this does not happen again.
It will be essential to review how we reached this position, but the main task at the moment is to help those who have been impacted by this week’s events.
The government are offering advice to employees and suppliers of Carillion to try to reassure them following the winding up order and the appointment of the Official Receiver. It will be a big shock to the approximate 20,000 employees in the UK and it must be remembered that this impacts not just on the employee but also their families.
I also have huge empathy, as Managing Director of an SME construction company, with the impact on a large number of construction sub-contractors facing uncertainty about work contracts and if they will be paid for the work already undertaken. It is likely that some of them will also end up in receivership. So, the impact will be far reaching.
Please read more in my blog Sustainability in Construction