📉Carillion Falls into Compulsory Liquidation.
U.K.-based Carillion plc, a construction and facilities management giant, has fallen into compulsory liquidation on January 15, 2018.
In July 2017, the listed company issued a warning on its profits, while its CEO quit at the time. The company warned it was near a breach of debt covenants and was in need of a fresh capital injection.
Carillion faced a downturn in new business, while dealing with expensive contract delays.
U.K. lenders such as the Royal Bank of Scotland (RBS), Lloyds Banking Group and Barclays are facing the news of having hundreds of millions of pounds default.
https://www.swfinstitute.org/swf-news/carillion-falls-into-compulsory-liquidation/
Carillion: Small firms count the cost of collapse – BBC News