Carillion: Ex-Chairman Philip Green Takes Blame for Collapse

The management team of construction firm Carillion faced a grilling from MPs yesterday as the Work and Pensions Committee probed the reasons for its collapse.

Former chairman Philip Green said he takes the blame for the failure, admitting his responsibility is “full and complete, total - no question in my mind about that. Not necessarily culpability but full responsibility".

Also at the hearing was former chief executive Richard Howson, who ran the firm until he resigned due to a profit warning. He explained that towards the end of his time in charge he “felt like a bailiff” trying to collect money.

Committee co-chairs Rachel Reeves and Frank Field were not impressed with the evidence. In a joint statement, they said “Everything we have seen points the fingers in another direction – to the people who built a giant company on sand in a desperate dash for cash”.
 
Carillion employed 20,000 people around the UK. This month alone, more than 800 redundancies have been announced.