Carillion Canada – the Canadian subsidiary of insolvent UK construction firm and state contractor Carillion – has said in a statement that it is not in liquidation and will continue uninterrupted.
After failing to secure the short-term financing it required to continue operating, Carillion recently entered compulsory liquidation.
However, despite the collapse of its parent company, Carillion Canada intends to continue paying its subcontractors, suppliers and 6,000 employees in Canada, and go on delivering services.
The situation is currently being assessed by Carillion’s Canadian directors. They were said to be working with stakeholders to ensure the continuity of operations.
Carillion bought Ontario-based contractor Vanbots Construction ten years ago, and it has now been speculated that Carillion’s Canadian assets could be attractive for a number of potential buyers.