It’s business as usual for Canada operations despite collapse of British parent company
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Six thousand employees of Carillion Canada are not in danger of losing their jobs, even as its parent company collapsed on Monday.
A spokesman for the subsidiary of the British construction giant and state contractor said it would be “business as usual” for the Canada operations.
Carillion Canada is not in liquidation and its 6,000 employees, its subcontractors and suppliers, continue to be paid, said Cody Johnstone.
The Canadian leadership team is looking at how to continue operations despite parent company’s compulsory liquidation.
During weekend talks with creditors, Carillion UK failed to get the short-term financing it needed to continue operating.
Raymond James analyst Frederic Bastien said Carillion bought Ontario contractor Vanbots Construction about 10 years ago and won contracts to build the country’s first two private-public partnership hospitals.
The focus in Canada now is on P3 ownerships, facilities management and other recurring activities such as road maintenance, remote workforce camp operations and power line construction and maintenance.
Carillion’s Canadian assets, which include equity positions in several hospitals — including the Centre for Addiction and Mental Health in Toronto — would be attractive for a number of large potential buyers in Canada, Bastien added.
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A spokesman for the subsidiary of the British construction giant and state contractor said it would be “business as usual” for the Canada operations.
Carillion Canada is not in liquidation and its 6,000 employees, its subcontractors and suppliers, continue to be paid, said Cody Johnstone.
The Canadian leadership team is looking at how to continue operations despite parent company’s compulsory liquidation.
During weekend talks with creditors, Carillion UK failed to get the short-term financing it needed to continue operating.
Raymond James analyst Frederic Bastien said Carillion bought Ontario contractor Vanbots Construction about 10 years ago and won contracts to build the country’s first two private-public partnership hospitals.
The focus in Canada now is on P3 ownerships, facilities management and other recurring activities such as road maintenance, remote workforce camp operations and power line construction and maintenance.
Carillion’s Canadian assets, which include equity positions in several hospitals — including the Centre for Addiction and Mental Health in Toronto — would be attractive for a number of large potential buyers in Canada, Bastien added.
Want the latest HR news direct to your inbox? Sign up for HRD Canada's daily newsletter.
Related stories:
Carillion collapse threatens 6,000 Canadian jobs
Sears Canada closes final stores