The debt-ridden company, which employs around 43,000 people, nearly half of them in Britain, announced it was going into liquidation after talks with its bankers and the British government failed to reach a deal to save the business.
Some 43,000 jobs worldwide are likely to be affected by the collapse into liquidation this morning of construction giant Carillion.
However, the government has confirmed it shall be providing funding to maintain public services carried out by Carillion staff, subcontractors and suppliers.
"It is of course disappointing that Carillion has become insolvent, but our primary responsibility has always been (to) keep our essential public services running safely", said David Lidington, head of the Cabinet Office.
A DHSC spokesperson said: 'The hospital regulator NHS Improvement has been helping trusts with planning and will continue to work intensively with trusts over the coming days. "Staff that are engaged on public sector contracts still have important work to do".
CHILDREN across Oxfordshire will still receive their school meals despite the company which provided them going into liquidation.
The demise of the 200-year-old business "poses a major headache for Theresa May's government, which has employed Carillion to work on 450 projects including the building and maintenance of hospitals, prisons, defence sites and the country's new superfast rail line", says Reuters.
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Carillion chairman Philip Green said the liquidation was a "very sad day" for workers, suppliers and customers of the company.
"The companies' boards have both given assurances and confirmed that they will underwrite the performance of each other in delivering the contract", May's spokesman told reporters.
The collapse puts the future of Carillion's 19,500 employees at risk and also heaps pressure on the government.
Thousands of current and former staff have money in Carillion pension funds, which have deficit of nearly £600m.
Jim Kennedy, Unite's national officer for local government, said a public inquiry was needed.
Shadow business secretary Rebecca Long-Bailey said on Friday the Government must "stand ready to bring these contracts back into public control, stabilise the situation and safeguard our public services".
"RMT will be demanding urgent meetings with Network Rail and the train companies today with the objective of protecting our members jobs and pensions".