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Tag: collapse

Hundreds of jobs saved after Carillion collapse

Hundreds of jobs saved after Carillion collapse

Business
The collapse of Carillion has resulted in 377 staff being made redundant, but more than 900 jobs being saved so far.The company went into liquidation in January after being brought to its knees by mounting debts and a hole in its pension fund.One valuation, based on the cost of an insurance company covering the deficit, puts that hole in the pension fund at £2.6bn.The official receiver confirmed the figures for redundancies today, and said: "I recognise this will be a worrying time for all those affected, their families and local communities. I would like to thank all the staff for their professionalism throughout the liquidation.Video:MP seeks Carillion crisis pension reform"I am expecting many employees working on other Carillion contracts to transfer in the coming weeks and we are conti
Govt insists 'no chaos' amid Carillion collapse

Govt insists 'no chaos' amid Carillion collapse

Business
A top minister has insisted there's "no evidence of chaos" amid the collapse of Carillion as he defended the Government's awarding of contracts to the now-bust construction firm.Cabinet Office minister David Lidington chaired a meeting of the emergency COBRA committee on Monday night following the collapse of the major public service provider.Ministers were forced to respond after the crisis-stricken firm plunged into liquidation early on Monday morning amid £900m of debt and a £587m pension deficit.Carillion, which employs 20,000 workers across Britain, held multi-million pound contracts across the work of Government before banks pulled the plug on the 200-year-old firm.These included work on the HS2 railway, the construction of new schools and hospitals, the building of the Aberdeen bypa
Sevilla 3-3 Liverpool: Jurgen Klopp's men throw away three goal lead in disastrous collapse

Sevilla 3-3 Liverpool: Jurgen Klopp's men throw away three goal lead in disastrous collapse

Sports
An almighty collapse saw Liverpool miss the opportunity to qualify for the Champions League knockout stages as they drew 3-3 away to Sevilla. Maribor's added-time equaliser against Spartak Moscow opened the door not only for Liverpool to qualify with a match to spare but win the group outright but they did not so much as walk through as blow it off its hinges with a scintillating first half of footballThey then spent the next 45 minutes desperately trying to barricade the hole they left behind as the half-time introduction of Franco Vazquez sparked Sevilla into life.It means Liverpool need a point at home to Spartak to now qualify but Sevilla could snatch top spot as they play already-eliminated Maribor.Liverpool certainly cannot afford another Jeckyll and Hyde performance like this o...
Thousands on way home after Monarch collapse

Thousands on way home after Monarch collapse

Business
The repatriation of tens of thousands of Monarch customers has "started well", the chair of the Civil Aviation Authority (CAA) has said.Dame Deirdre Hutton told Sky News that 12,000 passengers had been brought home on Monday on the first day of the operation as the airline collapsed into administration.A further 12,000 were expected to come back to the UK on Tuesday, which will leave 86,000 still to return.The collapse of the airline on Monday morning left 110,000 holidaymakers who had planned to return on Monarch flights potentially stranded abroad.:: Why Monarch went under - and why more airlines could followBut the CAA has launched an operation to bring all of them home, including some who were not covered by the industry's ATOL guarantee scheme - reportedly at a cost of up to £60m to t
Redundancies follow Monarch Airlines collapse

Redundancies follow Monarch Airlines collapse

Business
Administrators say 1,858 Monarch staff have been made redundant following the collapse of Britain's fifth-biggest airline.Approximately 860,000 passengers have been affected by the carrier's demise - and 110,000 people currently stranded abroad are being flown home in "the country's biggest-ever peacetime repatriation".Monarch's collapse has also meant that the future bookings of 750,000 passengers have been cancelled with immediate effect.:: What to do if you've booked with MonarchImage:Part of a letter handed to passengers at GatwickThose who have bought flights are being urged not to travel to airports, and to check the Civil Aviation Authority's website for information.Dozens of aircraft are being chartered to fly holidaymakers back to the UK - and passengers arriving back in Birmingha...