Bankrupt construction giant Carillion had £5bn-worth of financial liabilities when it went into liquidation – including a pensions shortfall of £2.6bn.
The figures are based on a private analysis of what Carillion’s pensions deficit would be on a full buy-out basis, according to sources reported by Sky News. The official pensions liability has been stated as being £587m.
When the £2.6bn shortfall is added to Carillion’s other liabilities, it brings the total owed when the company collapsed to approximately £5bn.
The other debts include £1.3bn owed to the banks, £630m on bonding facilities, £350m to suppliers, £170m of convertible bonds, and an unknown amount owed to the government in VAT and tax deductions from salaries.