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Siglion Chief Executive gives statement on Carillion

Sunderland City building on Vaux site Sept 2017 distance

5:41pm 16th January 2018
(Updated 6:09pm 16th January 2018)

"It will be business as usual."

Siglion have given a statement on the collapse of Carillion.

The company were contractors for the work that was underway at the Vaux site in Sunderland.

John Seager, chief executive of Siglion, confirmed that, as Carillion Construction had been appointed to undertake construction of the Vaux site, liquidators at PwC had instructed that work on site ceases for an interim period whilst they consult with suppliers to establish the best way to continue progress.

Below is a statement from John Seager, regarding Carillion’s insolvency:  

“The site has been locked down by liquidators, which is standard practice in these circumstances.  However, we are working closely with Carillion and PWC and we hope that this will be resolved quickly and that we can ensure that no momentum is lost and the Vaux site is delivered as expected."  

Siglion also own a commercial property portfolio which has premises throughout the city. While Carillion is a partner in Siglion, Mr Seager confirmed that the firm is not reliant on any continued investment from the organisation. 

He continued:

“Carillion has already made its equity investment in full into Siglion, so for all intents and purposes, it will be business as usual.  Tenants in our sites across the city will see no changes, and we will be writing to them to that effect.”

business

The Business Secretary has ordered a fast-track investigation into directors at the failed construction firm Carillion.

The firm went into liquidation yesterday, after running up losses on contracts and struggling with heavy debts.

The government has been heavily criticised for its role in the debacle with thousands of jobs now at risk.

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