'The chairman Carillion today admitted he is responsible for the firm's collapse - but its executives still refused to hand back their multi-million pound bonuses.
The outsourcing giant went but last month after racking up enormous amounts of debt - endangering thousands of jobs and leaving taxpayers with a potentially hefty bill.
Their top executives were hauled before MPs to explain themselves - and admitted the company let their problems spiral.
But in scenes that will infuriate the public, they insisted they were 'comfortable' with being handed six-figure bonuses even as the firm slid into bankruptcy.
Carillion chairman Philip Green told MPs he accepted 'responsibility' for the collapse.
Mr Green told MPs today: 'The collapse is the responsibility of the chairman and the board. As chairman of the board, I take full responsibility.'
Carillion has been accused of offering 'rewards for failure' as it emerged the former CEO still draws a £660,000 salary despite stepping down last summer after presiding over the company's slide to collapse.
He added: 'We went into the year with too much debt.
'Contracts deteriorated rapidly and because we didn't have that wiggle room, that was a significant factor.'
Meanwhile, Richard Howson, former chief executive at Carillion, admitted he would have run things 'differently' at the firm with the benefit of hindsight.
But he insisted he was worth his bumper bonuses of £293,000 in 2015 and £245,000 in 2016.'
Read more: Carillion chairman admits he IS responsible for the firm's collapse but executives still REFUSE to hand back their multi-million pound bonuses
Did you like this article?
Thank you for your vote!
31 December 2017
Housebuilding boss given £132million bonus after his firm made huge profits from Help to Buy sees the payout swell by another £1million in just three days
20 October 2017
One of Britain's largest abortion providers 'paid its staff bonuses for encouraging women to go through with procedures' claims watchdog in damning report
24 June 2017
Top mandarins scoop big bonuses despite fury over Project Fear - while rank-and-file public sector workers endure austerity
From our advertisers
From our advertisers