'Business as usual' for Siglion operations across city despite Carillion collapse
It is 'business as usual' for city developer Siglion despite the collapse of construction giant Carillion, says the man in charge.
Carillon was both a partner in Siglion and the construction company carrying out the work on the former Vaux brewery site.
It collapsed in to liquidation yesterday - but while work on the site has stopped, John Seager said it was 'business as usual' for the rest of the firm's operations.
He confirmed liquidators at PwC had instructed work on site cease for an interim period while they consult with suppliers to establish the best way to continue progress.
"The site has been locked down by liquidators, which is standard practice in these circumstances," said Mr Seager.
"However, we are working closely with Carillion and PWC and we hope that this will be resolved quickly and that we can ensure that no momentum is lost and the Vaux site is delivered as expected."
Siglion also own a portfolio of commercial properties across the city and Mr Seeager said tenants would see no change.
While Carillion is a partner in Siglion, the firm is not reliant on any continued investment from the failed business.
"Carillion has already made its equity investment in full into Siglion, so for all intents and purposes, it will be business as usual," said Mr Seager.
"Tenants in our sites across the city will see no changes, and we will be writing to them to that effect.”