January is often a challenging time for many businesses and it is no surprise to learn that many companies go out of business. However, it would be fair to say that many people were shocked with the announcement that Carillion, a construction firm in the UK, went into liquidation. This happened on Monday the 15th of January and given the amount of work the company undertakes across the country, a lot of people and professionals were in shock at the news.
The company is responsible for a few important projects, with the HS2 high speed rail line being one of the most prominent projects the firm was working on. Carillion also held several Government contracts which included services for transport, prisons, schools and hospitals. These projects are at the heart of everyday life in the United Kingdom and it is not surprising to learn that there has been a lot of anger and frustration at events of the past week.
The Airport Relief road was long awaited
One major local project that Carillion have been involved with is the A6 to Manchester Airport Relief road. This is a project that clocks in at close to £300m and it is aimed to improve access across the south east of Manchester and East Cheshire. The project is being carried out alongside Morgan Sindall.
The project has already been hit by a number of problems. It was hoped that the road would be open by autumn of 2017 but in April of 2017, a delay was announced with spring of 2018 being cited as the new date for the completion of the project. The reason cited for the delay was heavy rainfall and no doubt many people across the United Kingdom had a chuckle at the thought of unexpected rain causing a problem in the Greater Manchester area.
Other businesses may be impacted on by this news
It is sad news that doubt will be cast over the project for now, although there is hope that other firms will be able to step in and take over projects. Of course, the real issue may come with the impact on professionals and businesses who may be affected from the fallout of Carillion’s collapse. This is something that may have an impact on the local community and the local property market, which is why Spencer Harvey will monitor the events and ensure that we keep up to date with any changes or new developments.
If you would like to talk more about Stockport property options, you will find that we are the local experts you can rely on. You can give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html