Carillion chair planned ‘upbeat’ message before £845m writedown

Select committee says Philip Green had only a ‘tenuous grasp’ of Carillion’s crisis

Carillion’s former chairman Philip Green had only a “tenuous grasp” on the crisis in the construction firm’s finances, and was working towards an “upbeat announcement” to the City just five days before unveiling a £845m writedown, board minutes of the collapsed group reveal.

The board also rejected advice from its brokers that the company would be unable to raise emergency funds, describing their pessimistic view as “not credible” and then hiring alternative advisers.

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from The Guardian http://ift.tt/2HV2Gu2