Banks promise to support Carillion subcontractors and suppliers

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Representatives for HSBC,Barclays, Lloyds, Santander, RBS, Shawbrook and Aldermore met with MPs on Wednesday to discuss Carillion’s demise and how they can help contractors.

Business Secretary Greg Clark commented saying: “It is essential that small businesses exposed to the Carillion insolvency are given the support they need by their lenders.”

UK Finance issued at statement which said: “UK banks and the Government are working closely to make sure the impact of the Carillion liquidation on SMEs in the supply chain is understood and managed in a way that best supports those in need of assistance.

“Lenders are contacting customers and, where appropriate, are putting in place emergency measures, including overdraft extensions, payment holidays and fee waivers to ensure those facing short term issues can be helped to stay on track.”