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

Oxford United win green light for £150m all-electric stadium

Planners back 16,000-seat Kidlington ground with hotel, plaza and community hub
3 days ago

Demolition record as eight cooling towers come down

Watch Brown & Mason set record at Cottam Power Station
3 days ago

Hitachi Energy named for EGL3 converter station deal

Firm to build major HVDC converter stations in Aberdeenshire and West Norfolk
3 days ago

PAS NW secures landmark £20m civils deal in Lancashire

Groundworks firm wins infrastructure for 429-home Wain Homes scheme
2 days ago

Subcontractors wanted for jobs across the South West

Register now for latest Constructionline event in Bristol
2 days ago

Profits double at Octavius as road and rail work grows

Recent acquisitions add to turnover growth at infrastructure specialist
3 days ago

Quarterly construction output growth masks orders slide

New orders down by over 8% driven by fall in infrastructure and offices
3 days ago

Vinci UK swings back into profit after group restructure

£166m cash injected to strengthen building and facilities operations balance sheets
4 days ago

Staged procurement to make comeback as pricing risk bites

Developers turn to staged deals to control costs on big-ticket commercial jobs
4 days ago

McGee profit halves as project start delays hit

Revenue up 24% but profits fall on higher carry costs
3 days ago

Vistry to deliver 2,300 homes at Rugeley power station site

139-acre brownfield site has already been extensively remediated
4 days ago

Andrew Scott wins role on Swansea’s next big office build

Contractor appointed for detailed design of 800-desk city centre hub.
4 days ago

Knights Brown to start £29m Poole flood wall job

1.5km barrier to protect homes and unlock regeneration plans
4 days ago

Kier lands £16m first ECI job with Southern Water

Design deal covers nitrogen cut and UV upgrade at Hampshire wastewater sites
4 days ago

Watkin Jones seals deal on 200-bed student scheme

Bristol project will involve four brick buildings rising to seven storeys
4 days ago

Severfield brings in new CEO from Laing O’Rourke ranks

Everton Stadium job chief Paul McNerney to take the helm in the autumn
4 days ago

Balfour hits 3% construction margin target

Profit target finally reached after eight years
4 days ago

Network Rail launches £240m OLE steelworks framework race

Deal to supply overhead line equipment for electrification schemes
5 days ago

Briefing starts for £8bn highways maintenance shake-up

National Highways launches early talks on next-generation regional roads upkeep
5 days ago

Plant hirer Lynch launches labour supply division

Workers now available to Tier 1 and Tier 2 infrastructure contractors
4 days ago

Kori lands latest £17m care home contract

Work to start on site in south west London next month
5 days ago

£70m Bristol student job finally gets Gateway 2 approval

Student developer Unite to progress two big schemes
5 days ago

Government unveils 10 new construction technical colleges

£100m plan to train 40,000 skilled trades by 2029 gets off the ground
6 days ago

McLaren lands London School of Economics £100m revamp

Central London job will be largest Passivhaus retrofit building in the UK
5 days ago

Industry standards body parts company with chairman

Considerate Constructors Scheme executive chairman also leaves role at Lighthouse Charity
5 days ago

Clegg wins car park to flats conversion contract

Work to start this autumn on transforming multi-storey car park into flats
6 days ago

Go-ahead for major retrofit of former London De Beers office

Mace advised on pre-planning construction plan for Hatton Garden gateway scheme
5 days ago

Danny Sullivan HS2 workers hit-out over agency moves

Site workers unhappy about how TUPE transfers are being handled
6 days ago

Overbury set for major law firm fit-out win

Contractor tipped for 2 Aldermanbury Square win
1 week ago

M&E contractor Cannock goes under

Supply chain takes hit as Staffordshire specialist goes down owing £4m
6 days ago