Carillion’s collapse forecast to cost trade credit insurers £31 million
Jonathan Smith, Strategic Director – Trade Credit & Surety for TL Dallas & Co Ltd comments on today’s news that Carillion’s collapse is forecast to cost trade credit insurers approximately £31 million in payouts.
‘As I live in Wolverhampton, the impact of this has already been felt hard by the employees of the company, as well as by others directly or indirectly, as this article makes clear.
Some positive action has been taken by the banks to provide additional funding lines or other support to some subcontractors. Other companies have taken on employees of Carillion which give some employment certainty and this may be something we see more of.
The real impact of this situation will take time to work its way through, but the one clear thing is we are only just at the beginning of the process. The domino effect is something we have seen time and time again with other corporate failures such as Carillion. So we expect to see the ripple effect of this continuing for some time to come.’
TL Dallas is a leading provider of solutions to protect against insolvency or default exposures and if you would like to talk about specific needs we would welcome the opportunity to see if we can help to provide more certainty in these very uncertain times.
Read the full article here.
Contact Jonathan Smith for further information on 07983 325766 or email email@example.com.Back to News