‘Catastrophic’ losses forecast for Carillion suppliers

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  1. The reference to £800m being held in retention payments owed to subcontractors – the source isn’t credited but seems to come from subcontractor organisations BESA and ECA. Assuming a typical 3% retention (which assumes no release) it would mean Carillion were holding retention on over £26 Billion of turnover. Carillion turned over £5.2 billion in 2016 which means they held every penny of retention on every penny of turnover for over 5 years. I doubt this is correct – more likely the £800m is the total owed to subcontractors.

  2. @John Tibbitts
    Editorial note: This has now been clarified by BESA

    The £800 million refers to payments owed to the supply chain.

  3. When you consider the payment terms subbies would get from Carillion (30 days invoice paid 60 days— at best…………)

    Effectively using the subbies /suppliers’ money to build with!!!

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