Marsh Industries, leading manufacturer of quality environmental products, has proposed a simple solution to protect the industry from any future Carillion-like disaster.
Suppliers of goods and services can only base their credit decisions on the information in the public domain and may not have the resource to obtain credit insurance. This can lead to an erroneous belief in the financial solidity of large contractors, with potentially disastrous results.
Marsh, based in Northamptonshire, hosted a meeting today with MP Tom Pursglove and a number of business owners, to put forward a simple idea. If companies were required to include creditor days (specifically the number of days they take to settle accounts and the number of days over terms) in their audited accounts, merchants and sub-contractors would be able take informed decisions on supply.
Steve Boyer, Managing Director of Marsh Industries said, “We cannot have another Carillion. The impact on the industry continues to reverberate and damage all sectors. I am calling on the Government to legislate to ensure transparency in accounts, which will help restore confidence and I will be urging industry bodies to lobby Parliament. Marsh has always supported merchants and sub-contractors and this initiative shows our continuing commitment”.
Marsh Industries is the UK market leader in domestic off mains drainage systems. The company manufactures sewage, drainage and water recycling products, supplying major UK builders and civil engineering merchants across the UK and beyond. Regularly specified by major contractors and institutions such as the National Trust, English Heritage, British Waterways, RSPCA and the Environment Agency, Marsh Industries manufactures all its own products in the UK to the highest quality and performance standards.
Pictured: MP Tom Pursglove and a number of business owners at Marsh Industries HQ in Northampton.