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Queens Fish Bar 4:54 Fri Mar 15
Interserve go into administration

Another outsourcing provider goes into administration.

Others like Crapita in trouble, time to accept the private sector cannot do the job better at lower cost.

As taxpayers we're paying more as we bail out the shareholders by giving more contracts to slow their decline.

From BBC:

Outsourcing giant Interserve has failed to persuade shareholders to approve a rescue plan for the company.

Interserve is expected to go into administration later today, although its contracts are likely to continue as normal and no job cuts are expected.

But its failure is likely to prompt further debate over the use of private sector contracts for public services.

Interserve has 45,000 UK staff, and 65,000 globally, cleaning schools, and running catering and building projects.

Shareholders voted 59.38% against the plan, which would have seen their stake reduced to just 5%, with lenders being handed the lion's share of the business.

Interserve said: "The board of directors of the company is convening an urgent board meeting to consider its options." However, the company added that "in the absence of any viable alternative" it is likely to formally apply to go into administration.

Mike Oxsaw 9:06 Fri Mar 15
Re: " "

Vexed 8:28 Fri Mar 15

Yet you always jump when I bark. Bizarre.

pulhampete 8:36 Fri Mar 15
Re: " "

I once met an ex-chairman of one of these facilities companies he said that you make the money on the things you don't do.

As someone else said, they have great bid writers but it's always style over substance.

East Auckland Hammer 8:33 Fri Mar 15
Re: " "

Wife and I both used to work for Interserve.

Shame for most of the staff, but the company has always been rotten.

geoffpikey 8:30 Fri Mar 15
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Shareholders.

Thatcher's Britain.

40 years of wrecking.

Hope she dies soon. Oh.

Vexed 8:28 Fri Mar 15
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Even that was dull. Sucks to be you Mike.

Mike Oxsaw 8:02 Fri Mar 15
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Vexed 7:57 Fri Mar 15

Here you go - an "I don't give a fuck" response for your keep net.

Enjoy.

By Order.

Vexed 7:57 Fri Mar 15
Re: " "

Fucking hell you're boring Mike. Have some self awareness for fucks sake.

Mike Oxsaw 7:34 Fri Mar 15
" "

The procurement manager of the company I currently contract to was talking about using a similar company to provide IT support. He was fucking banged up that he seemed to have got a "great deal". Eventually they involved me in a "See how fucking good we are!" observation role.

I must have developed some sort of "look". Maybe a Spock raised-eyebrows look, but it killed stone dead the enthusiasm.

"You don't think it's a good idea?" was the question.

"Thankfully, it's not my problem." was my answer, "That's all I have to say on the subject."

They cancelled the negotiations and started looking again. Dodged a massive bullet.

wanstead_hammer 7:30 Fri Mar 15
Re: Interserve go into administration

They should just wash their hands of em.
And not air their dirty washing in public.

Sven Roeder 7:24 Fri Mar 15
Re: Interserve go into administration

Work with someone who came from one of these.
Seems they are under pressure so gutted out the middle managers who ran the contracts in a desperate attempt to cut costs and have left people who don’t know their arse from their elbow and are falling apart.

Mike Oxsaw 7:18 Fri Mar 15
Re: Interserve go into administration

Why anybody is surprised with this is beyond me. Private sector spivs turned the government and civil service every which way.

Dig beneath the surface and nailed on there are "mates" or family connections involved.

Taxpayers money forever gone from the government coffers.

Queens Fish Bar 6:55 Fri Mar 15
Re: Interserve go into administration

I'm sorry for the people whose jobs are at risk.

Hopefully they will get TUPE'd.

, 5:47 Fri Mar 15
Re: Interserve go into administration

Carillon gone and now Interserve with Capita struggling. In each case with these firms their prime expertise is being able to win contracts.

I have personal experience with Capita who won a contract handed out by my employer. It turned out that Capita were totally unequipped with the necessary numbers or experience to adequately fulfill their obligations.

BRANDED 5:36 Fri Mar 15
Re: Interserve go into administration

Absolute Thatcherite/Blairite crap policies. Its all just crony capitalism

Dr Moose 5:02 Fri Mar 15
Re: Interserve go into administration

Some Government departments are starting to see the folly in outsourcing, especially in IT, a few of them have started to bring it back in house.