Carillion fall-out hits Van Elle and Speedy

Aaron Morby 7 years ago
Share

Piling specialist Van Elle has joined a growing list of contractors and hirers to reveal the extent of their exposure to Carillion’s collapse.

The firm said this morning that its expected to take a hit of £1.6m on unpaid rail improvement and maintenance work.

Van Elle said it had applied for payment for work during December which had not yet been received, and work has continued on some of these contracts into January. 

It said: “The group will engage with Carillion and its advisers to determine the status of outstanding payments, but shareholders should note that, in the event that Van Elle is unable to recover any monies owed,  there would be an adverse financial impact on the Group.”

Van Elle’s order book includes further expected work with Carillion worth £2.5m.

Chief executive Jon Fenton added”It is too early to say whether there will be any effect on the commencement or completion dates of contracted work with Carillion, or what impact these developments will have on future work programmes, either in the rail sector or elsewhere, but the Group will monitor the situation closely and make further announcements as necessary.”

Plant and tool hirer Speedy said it was owed £2m from a total revenue of £12m with Carillion in the last 12 months.

A proportion of the group’s revenue and debt relates to joint venture arrangements involving third parties which are expected to continue unaffected. 

It added the impact was not expected to be material to the group which had net debts of £88.9m at the end of the year. 

Building services specialist T Clarke said it expected to take a hit of less than £100,000

T Clarke’s main project was on a Carillion joint venture project with KBR as part of the Aspire Defence Contract at Tidworth, Bulford and Perham Down.

It has been advised by the joint venture partner that there would be a transition for this contract but it could expect “business as usual”.

Among other firms understood to have taken hit are Heyrod Construction, which was working on several contract frames for Carillion in Manchester and plant hirer Hawk which has carried out several muck shifting jobs.

Yesterday Balfour Beatty and Galliford Try revealed they were each braced to take hits of around £40m for work on the Aberdeen Western Peripheral Route where they were in joint venture with Carillion.

Latest news

Morris & Spottiswood acquires part of ISG fit-out division

ISG Cathedral acquisition saves 111 jobs and expands presence across England
7 hours ago

Extra tunnels included in £6bn East West Rail scheme

Government unveils plans for two new tunnels in Cambridgeshire
14 hours ago

Infrastructure to get £80bn boost from public sector pensions

New "megafunds" will invest in UK construction projects
14 hours ago

Bidders wanted for £800m building safety framework

Fusion21 launches renewal of deal across 12 lots
1 day ago

Winchmore wins £6.5m brickwork package on Stratford flats

Latest award from Graham on £69m development
14 hours ago

Motts/Jacobs JV to design £2.5bn West Yorkshire Mass Transit

First construction could begin in 2028
1 day ago

Muse signs landmark deal to redevelop Solihull shopping centre

Mell Square scheme includes 1,600 homes at 6.4ha town centre site
2 days ago

Reds10 raids house builders for two director hires

David Newey and James Bateman join as regional ops directors
2 days ago

Builder killed as telehandler overturns

House builder goes into liquidation before court hearing and £160,000 fine
2 days ago

Balfour Beatty regional MD steps down

Lindsay McGibbon is understood to be exiting for a job in the United States
2 days ago

Firms put on alert for £1.5bn decarbonisation framework

Fusion21 aims to invite bids in January for housing and public buildings retrofit framework
2 days ago

Morgan Sindall aboard for £22m London station roof renewal

Passengers will continue to use Liverpool Street Station while roof works take place above
2 days ago

Utilities contractor turns to Africa for skilled workers

IES Utilities Group recruits its 100th overhead linesman from South Africa and Zimbabwe
2 days ago

McLaren boosts building safety and refurb team

Paul Woodhams promoted to newly created MD role at expanding division
2 days ago

Firms fight to renew places on £450m JV North deal

17 firms face fight to retain places on north west housing consortium list
3 days ago

Subbies get £7m lifeline on ISG Cardiff schools site

Council strikes deal with administrators and appoints emergency interim contractor
3 days ago

United Utilities names water and waste water design consultants

AtkinsRéalis, Jacobs, Stantec, Binnies, Mott MacDonald, RPS, and WSP make line-up
3 days ago

Crown Estate in £1.5bn Cambridge Business Park revamp plan

A phased programme of construction will start in 2026
3 days ago

McLaughlin & Harvey returns to profit

Contractor back in the black and looking forward to another positive year
3 days ago

Graham wins £69m London Stratford flats job

Stratford Mill project will deliver nearly 250 flats
3 days ago

Mace to complete construction of ISG neuroscience centre

Contractor to work with UCL to finish stalled job
3 days ago

BAM finally breaks ground at £60m-plus Yeovil College

Agreed contract price 50% above original estimate on delayed Somerset college job
3 days ago

Forterra trying to pass on NI cost increases

Brick and block giant writing to customers about 2025 price rises
4 days ago

Refurb contractor Troy Central goes into administration

Suffolk based hotel and leisure specialist had a £38m turnover
4 days ago

Former ISG director joins Wates as regional construction MD

Wayne Flannery joins Wates construction board after nearly 20 years at ISG
4 days ago

McLaren strengthens team for £1.1bn York Central scheme

CEG’s Head of Development (North) Karen Stafeckis joins McLaren Property
4 days ago

ISG collapse brings down glazing contractor

All staff made redundant at Vitrine Systems Limited
6 days ago

Wates gets go-ahead for 235 homes at Cardiff school site

City's first well being village approved
4 days ago

Cost of HS2 bat shed hits £100m

Construction costs revealed for Sheephouse Wood Bat Mitigation Structure
6 days ago

JRL close to deal on sale of stake to Far Eastern buyer

Equity sale plan to strengthen balance sheet and improve liquidity
7 days ago

Contractor services