If you are outside of the UK you may not have heard of Carillion. This is a very large construction (and other) company that has just gone in to liquidation with debts, allegedly, of around £1.5B. They use a lot of subcontractors and are involved in a lot of contracts for public works.
They have been in trouble, apparently, for a long time. What seems incredible is that the UK government continued to give them work when they were clearly in trouble. Their payment terms were, allegedly, changed from 30 days to 120 days. So a subcontractor would get paid nearly 4 months after doing work. Personally I think this immoral.
Now they are in deep trouble, lots of people could lose their jobs.
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