Lloyds Bank has said it will provide £50m to support its small business customers who are struggling following the failure of outsourcing company Carillion and after the government refused to insure its debts.
Meanwhile, Nationwide building society has said it will take in-house jobs which were performed by Carillion.
Lloyds said its fund was for small businesses within Carillion’s supply chain that “may now be experiencing financial difficulty”.
From 22 January 2018, 250 staff, mainly cleaners and maintenance workers, who were on the Carillion payroll, will be employed directly by Nationwide.
It will also take over contracts arranged by Carillion, which provide employment for another 1,500 workers.
Carillion went into liquidation earlier this week, threatening thousands of jobs, about 20,000 of them in the UK.
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