British Business Bank to provide 100m pounds to firms hit by Carillion collapse
The package will benefit businesses, including the construction and outsourcing company's subcontractors who may not have sufficient assets as security for conventional loans.
Carillion's 200-year-old business collapsed last month when its banks pulled the plug, triggering Britain's biggest corporate failure in a decade and forcing the government to step in to guarantee public services from school meals to roadworks.
The banking sector's trade body, UK Finance, has also confirmed an additional multi-million pound package for small businesses and personal banking customers, BEIS said. ■