Compulsory liquidation · 23 April 2018
Carillion Swindon
Main contractor · Wolverhampton · West Midlands · Part of Carillion
What happened
CARILLION SWINDON LIMITED (company number 02294384), incorporated in 1988, entered compulsory liquidation on 23 April 2018. Its status at Companies House is now: liquidation.
Why it failed
An acquisition-led dash for cash, aggressive accounting and losses on key contracts led to £1bn of write-downs in 2017; lenders and the Government then refused more support.
- Main reason: Losses on contracts
- Cash flow
- Accounting irregularities
- Funding withdrawn
- Sale or investment failed
Our summary of the reasons given in the report by Parliament's business and work and pensions committees into Carillion, another company in the group. This records the committees' findings after their inquiry.
A court orders the company to be wound up, usually after a creditor petitions because it is owed money. The company's assets are sold and the proceeds shared among creditors.
Previously known as: TARMAC SWINDON LIMITED, CRYSTALDEMO LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 December 2016
Last accounts filed were made up to this date
16 months later
23 April 2018
Winding-up petition presented
2 months later
13 June 2018
Winding-up order made by the court
AccountsPayment reportInsolvency
Before it failed
Key figures
The last accounts filed were full accounts made up to 31 December 2016, 16 months before it failed.
The full filing history, including any late filings, charges and director changes, is on Companies House.
Lessons learned report
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