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Business Secretary Greg Clark has ordered a fast-track investigation into directors at the failed construction firm Carillion. Following this, the conduct of directors in charge at the time of company’s failure and previous directors will be examined.
The UK’s second biggest construction firm went into liquidation today after running up losses on contracts and struggling with heavy debts.
“It is important we quickly get the full picture of the events which caused Carillion to enter liquidation,” Clark stated today, adding: “Any evidence of misconduct will be taken very seriously.”
The role of Carillion’s auditor KPMG will also be examined by the Financial Reporting Council.
In a related news, Clark will be hosting a meeting today with trade bodies representing hundreds of sub-contractors to Carillion.