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Carillion could enter administration on Monday unless UK backs rescue: Sky

Reuters  |  LONDON 

(Reuters) - and services company could enter administration on Monday unless Britain's backs a rescue plan, reported on Saturday, citing sources.

said on Friday it remained in "constructive discussions" with its creditors and suggestions that they had rejected its business plan were incorrect.

A collapse of Carillion, which provides services to departments including justice, health and education, and has built hospitals, roads and rail lines, would be felt across and also in and the where the 200-year-old company has worked on landmark projects.

declined to comment on Saturday's report, which said officials are due to meet on Sunday to discuss the company's future.

Shares in plunged almost 30 percent to a new low on Friday after reported it had put administrators on standby, while a person familiar with the matter told that creditors did not like the plan put forward.

Tensions over the future of have been rising for weeks and on Thursday ministers overseeing everything from justice to transport, health and education met to discuss how they should respond to the possible demise of a business that plays a central role in British public life.

(Reporting by Andy Bruce; editing by Alexander Smith)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, January 13 2018. 18:49 IST
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