This is one of the best pieces I've read yet on the Carillion crisis, focusing on trying to debunk the myths and exaggerations in the press as well as setting out some of the circumstances and factors leading to the demise.
Trying to unravel the Carillion story is still challenging, but a couple of things are clear, that it was caught by a change in the market and it over-reached on it's finances.
A second wave of problems will start to surface over the next fortnight as subbies and suppliers start to write off their Carillion debts.
I hope for the many companies who had Carillion as their main client that the transfer of projects to other firms is swift, and that any cashflow issues can be stemmed and resolved.
In the seven days since Carillion announced it was filing for liquidation Phil Bishop has posted approximately 8,000 words on the subject in the form of various news reports for The Construction Index. Here is his first comment on the story.