With around 43,000 workers all over the world, last week’s announcement of the Carillion collapse was bound to send shockwaves through the entire construction industry.

Taking into account that the organisation not only employed a huge amount of people but also functioned as a middleman to businesses by providing the likes of technicians and engineers to offices and hospitals, there was a certain inevitability about the reaction we have seen since.

A dozen or so small listed groups, which included the Yorkshire-based Premier Technical Services, have outlined the high costs of the group’s insolvency. Trade bodies have additionally warned that many of their 30,000 subcontractors will go into liquidation, whilst on Thursday Greg Clarke, the organisation’s business secretary, organised a task force to monitor the impact of the demise on both small companies and their employees.

What happens now?

According to Carillion, the UK government will supply the necessary funding to maintain the current public services that are being carried out by their staff, suppliers and subcontractors. Workers have been urged by the Insolvency Service to carry on as usual and promised that they will be paid via the official receiver.

As for the private sector, businesses are said to have already drawn up contingency plans. Balfour Beatty, for instance, is expecting to take a massive £45-million loss as a result.

This recent Carillion news is yet another example of the problems caused by formal insolvency. Our business recovery teams, based in Leeds, Harrogate, Bradford and Darlington, believe that although there is sometimes no other option available, this should be the last choice.

Our licensed insolvency practitioners can therefore offer sympathetic and constructive advice to help you find the best solution for all parties.

Please call 03300 244 660 or fill out this enquiry form for more information.

Mary Taylor

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Meg Heath

Meg has a background in supporting SMEs, including the raising of finance and advising on organisational change. She is a non-executive director of companies in the private and third sector, including Walsh Taylor.

Previously she was Deputy Fund Director of one of the largest CDFIs in the UK, and has experience of the social enterprise, charity and private sectors. Her experience of assisting companies to survive and thrive has been gained across a broad range of sectors and in companies of all sizes.

In addition to her work at Walsh Taylor she works for other private companies, including non-executive and trustee positions.

Emma Mifsud
Insolvency Practitioner

After graduating from Leeds University in 2005 with a BA Hons degree in Criminology, Emma worked for a regional law firm in both the property department and insolvency and banking department. Whilst doing so Emma gained a Graduate Diploma in Law at BPP University.

Emma then joined a national accountancy firm in 2009 gaining experience in personal insolvency before moving to a Leeds based firm. At this firm Emma specialised in bankruptcies, IVA’s and negotiating informal agreements with creditors. In 2013 Emma gained her CPI qualification.

Since joining the firm in December 2013, Emma has taken on a portfolio of personal and corporate insolvency cases to extend her knowledge and expertise in all areas of insolvency.

In December 2017 Emma become a licensed appointment taker under the Insolvency Practitioners Association, she is JIEB qualified.

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