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British Business Bank to provide 100m pounds to firms hit by Carillion collapse

Carillion
Britain   For small businesses and workers

The British Business Bank will provide up to 100 million pounds ($141.53 million) of lending to small businesses and workers affected by Carillion Plc's liquidation, the department for Business, Energy and Industrial Strategy (BEIS) said.


The package will benefit businesses, including the construction and outsourcing company's subcontractors who may not have sufficient assets as security for conventional loans.

Carillion's 200-year-old business collapsed last month when its banks pulled the plug, triggering Britain's biggest corporate failure in a decade and forcing the government to step in to guarantee public services from school meals to roadworks.

The banking sector's trade body, UK Finance, has also confirmed an additional multi-million pound package for small businesses and personal banking customers, BEIS said.

 

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