London firms were counting the cost of Carillion’s collapse on Friday as anger gripped the bust builder’s suppliers who have been left hundreds of thousands of pounds out of pocket.
Carillion sank under the weight of its £1.5 billion debts on Monday, leaving subcontractors on commercial projects nursing losses.
Benchmark Scaffolding’s managing director Rob West — a contractor on Helical Bar’s Barts Square development in the City — said his company had lost close to £400,000 on the failure. “I’m not happy about it but it could have been a lot worse,” he said. “Fundamentally we are strong enough to take this as a bump in the road.”
Keltbray, a demolition contractor on Carillion’s Arundel Great Court project on the Embankment, also said its exposure was likely to be “in the region of £400,000” although “not significant” to the company’s overall trading position. Deputy chief executive John Keehan added: “Our sympathies are with the many subcontractors who had a considerable exposure.”
Glazing firm Cornelius is understood to be owed £75,000 for the work it did on Battersea Power Station for cladding company Permasteelisa, which was working directly for Carillion on the project.
Permasteelisa refused to comment on its own exposure.