I recently shared my initial thoughts about the news that Carillion, the 2nd largest construction company in the UK, had gone into liquidation because it could not secure the funding required to stay in operation.
As a reminder, Carillion is a private sector firm that provided a wide array of public services across Britain. They served lunches in public schools and provided maintenance to prisons; They provided cleaning and foodservice in hospitals, and they maintained roads. Perhaps most importantly, they did all of this through a huge network of subcontractors and partners, many of whom are now facing financial difficulties in the wake of the Carillion collapse. By some estimates, up to 30,000 companies could be affected.