Carillion fall-out hits Van Elle and Speedy

Aaron Morby 8 years ago
Share

Piling specialist Van Elle has joined a growing list of contractors and hirers to reveal the extent of their exposure to Carillion’s collapse.

The firm said this morning that its expected to take a hit of £1.6m on unpaid rail improvement and maintenance work.

Van Elle said it had applied for payment for work during December which had not yet been received, and work has continued on some of these contracts into January. 

It said: “The group will engage with Carillion and its advisers to determine the status of outstanding payments, but shareholders should note that, in the event that Van Elle is unable to recover any monies owed,  there would be an adverse financial impact on the Group.”

Van Elle’s order book includes further expected work with Carillion worth £2.5m.

Chief executive Jon Fenton added”It is too early to say whether there will be any effect on the commencement or completion dates of contracted work with Carillion, or what impact these developments will have on future work programmes, either in the rail sector or elsewhere, but the Group will monitor the situation closely and make further announcements as necessary.”

Plant and tool hirer Speedy said it was owed £2m from a total revenue of £12m with Carillion in the last 12 months.

A proportion of the group’s revenue and debt relates to joint venture arrangements involving third parties which are expected to continue unaffected. 

It added the impact was not expected to be material to the group which had net debts of £88.9m at the end of the year. 

Building services specialist T Clarke said it expected to take a hit of less than £100,000

T Clarke’s main project was on a Carillion joint venture project with KBR as part of the Aspire Defence Contract at Tidworth, Bulford and Perham Down.

It has been advised by the joint venture partner that there would be a transition for this contract but it could expect “business as usual”.

Among other firms understood to have taken hit are Heyrod Construction, which was working on several contract frames for Carillion in Manchester and plant hirer Hawk which has carried out several muck shifting jobs.

Yesterday Balfour Beatty and Galliford Try revealed they were each braced to take hits of around £40m for work on the Aberdeen Western Peripheral Route where they were in joint venture with Carillion.

Latest news

Mace Construct chief executive to step down

Jason Millett to leave in December but retain board seat at Mace Consult
5 hours ago

Over 90 jobs axed as Falkirk steelwork firms collapse

Administrators called in at AIM Engineering & Fabrication Group and Hescott Engineering
5 hours ago

Keady Construction lands £150m Stockport resi scheme

Construction to start in first quarter of 2027 for developer Amstone
5 hours ago

Forterra plans brick and block price hikes

Materials giant to implement "pricing surcharges" from June
4 hours ago

Renew snaps up electricity design specialist EDES

Engineering contractor targets grid boom with latest takeover
4 hours ago

Sixteen win £1bn Southern Gas Networks deal

Clancy Docwra and Network Delivery Associates win places on all four lots
5 hours ago

Kier submits plan for £60m Ellesmere Port school rebuild

RAAC-hit 1,000 place Catholic high school set for full demolition and replacement
5 hours ago

Statom Holdings posts increased turnover and profits

Results for whole group highlight landmark year of growth
20 hours ago

Morrisroe order book jumps 40% after Villa Park and Battersea wins

Diversified concrete frame specialist banks £340m order book after margin recovery last year
1 day ago

Trial date set after passer-by killed by falling window pane

Four firms to appear in court after glass fell 15 storeys from luxury tower
1 day ago

Norwich’s first build-to-rent scheme approved

£80m Victoria Gardens plan will deliver 432 rented homes
1 day ago

Dalkia lands M&E deal at £300m Children’s Cancer Centre

Major package award at Sisk site as piling work due to complete this month
1 day ago

London office fit-out second most pricey in the world

High-spec fit-outs now cost nearly £4,400 per sq m as occupiers chase top quality workspace
4 days ago

Developers called up for £10bn Old Oak mega-scheme

Race starts to find developer partner by spring 2027 to deliver 8,000 homes
4 days ago

Speller Metcalfe replaces Curo on £18m leisure job

Fenland council acts swiftly to keep Manor Leisure Centre on track
4 days ago

Bachy and Kilnbridge team up for ground-to-frame offer

New UrbanCore venture to target complex basement and structural packages
4 days ago

Statom builds £617m order book after board strengthened

Essex contractor reshapes around integrated engineering and self-delivery model
4 days ago

Lovell signs off £1bn Birmingham estate regen deal

Developer to lead 3,500-home rebuild of Druid’s Heath over 20 years
5 days ago

Legendre to start £70m Mayfair office revamp

Main construction begins in June at 50 Stratton Street site
5 days ago

Road worker loses leg in milling machine

Court hears how worker became entangled in machine while road planing
5 days ago

Costain on track for 4% margin as workload builds

Contractor expects revenue and profit growth this year ahead of bigger 2027 uplift
5 days ago

Falkirk steelwork firm workers protest after wages fail to land

Workers gather at Hescott Engineering as fears grow over firm’s future
5 days ago

Ageing M53 bridges first in line for £1bn motorway structures repair

Four bridge decks to be replaced in three-year Merseyside and Cheshire upgrade
5 days ago

Landsec flags more delays on major housing starts

Developer waiting for policy concessions to make schemes more profitable
5 days ago

Plans in for £100m Buxton town centre reboot

Capital&Centric finalises plan for Spring shopping centre redevelopment
5 days ago

Ex-Skanska VP joins M Group as energy infrastructure chief

Former COO Andrew English brought in to drive sector growth
6 days ago

Vistry warns first-half profits to be hit by discount drive

New Vistry chief starts operational review as cash drive shifts private homes stock
6 days ago

Strabag UK gears up for civils work surge next year

Trio of major tunnelling jobs to drive revenue to £1bn target
6 days ago

Glencar revealed as builder of £50m Minecraft World

Contractor confirmed on latest attraction at Chessington World of Adventures
6 days ago

King’s speech building safety bill puts manufacturers in firing line

Government aims for new powers to make construction product firms contribute to remediation costs
6 days ago