Custom Group unaffected by Carillion demise

There is no doubt that the recent failure of Carillion will send far reaching shock waves for businesses of all sizes. It is believed that thousands of small businesses in particular could be vulnerable and may be forced to lay off workers or close permanently.

For some time Custom Group Ltd have implemented a rigid array of credit control procedures to protect against a Carillion type scenario. This includes credit insurance provided by Euler Hermes, a global provider of credit protection products which has recently been acquired by the Allianz group.

Although we performed work for Carillion on a number of projects in 2017, all outstanding funds were received prior to their collapse and fortunately we didn’t need to rely on the extra level of security provided by our credit insurance.