UK's second biggest construction company in the news 15 Jan
The story has been breaking for a while but this morning Carillion now taking steps to enter into compulsory liquidation with immediate effect after talks with lenders and government failed.
The company has contracts for large UK infrastructure projects and now thousands of jobs are at risk with 43,000 staff worldwide - 20,000 in the UK.
Over the weekend, it was expected that Carillion would file for administration but has now said it would file for voluntary liquidation to be handled by the Official Receiver.
And no I'm not posting it to support any bearish sentiment. Well, no more than usual!
Chairman Philip Green says:
"This is a very sad day for Carillion, for our colleagues, suppliers and customers that we have been proud to serve over many years,"
"In recent days however we have been unable to secure the funding to support our business plan and it is therefore with the deepest regret that we have arrived at this decision."
The FCA has announced that it will temporarily suspend trading in Carillion's shares.
The BBC has more reaction here
GBPUSD currently unfazed at 1.3745 after Friday's rally and Asian highs of 1.3770 but off its 1.3722 lows
I hope you all had a good New Year and successful start to January. Be gentle with me today please while I get back up to speed. Thanks!
I'll try and get some order boards up asap