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Carillion’s collapse: Time to regulate construction services companies like banks

The government has ordered a fast-track investigation into directors at the failed construction firm Carillion.

The UK’s second biggest construction firm went into liquidation on yesterday, after running up losses on contracts and struggling with heavy debts.

The conduct of directors in charge at the time of company’s failure and previous directors will be examined.

During their time in charge, Carillion was hit by cost overruns on big projects, problems with contracts in the Middle East and a large deficit in the company pension scheme.

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