The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGFS.L Share News (GFS)

  • There is currently no data for GFS

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

G4S 'Picked To Run New Mega Prison' In Wellingborough

Thu, 09th Jul 2020 20:00

(Alliance News) - Outsourcer G4S PLC has been selected to run a new mega prison, it is understood.

The company is the preferred choice to be awarded the contract for the new category C HMP Wellingborough in Northamptonshire, which cost GBP253 million to build and is set to hold 1,680 criminals, sources told the PA news agency.

The decision, which is yet to be ratified and could still be challenged by other companies vying for the job, comes after G4S was last year stripped of its contract for running Birmingham prison seven years early.

The jail, one of the largest in the country, was taken back under state control having plunged into crisis under private management, according to a damning report by the chief inspector of prisons Peter Clarke.

His findings detailed scenes likened to a war zone in which inmates walked around "like zombies" while high on drugs and flouted the rules with impunity.

G4S also pulled out of running Brook House immigration removal centre near Gatwick Airport and the Medway secure training centre in Kent after BBC's Panorama programme broadcast undercover footage of inmates and detainees allegedly being mistreated.

But the company also runs four other prisons, Altcourse, Parc, Rye Hill and Oakwood, all of which have won praise from inspectors.

An announcement confirming the Wellingborough decision is expected in the coming weeks, subject to any appeals lodged.

Building work began in September on the so-called "mega" prison which is due to open next year on the site of the former jail which closed in 2012.

The project is described as a flagship example of the government's aim to create a "modern, efficient prison estate that is fit for the future".

The stock closed down 2.7% at 117.60 pence in London on Thursday.

source: PA

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
3 Nov 2020 12:03

LONDON MARKET MIDDAY: Equities Rack Up Gains As US Polls Open

LONDON MARKET MIDDAY: Equities Rack Up Gains As US Polls Open

Read more
3 Nov 2020 11:22

UK TOP NEWS SUMMARY: Trump, Biden Wrap Up Campaigns As US Polls Open

UK TOP NEWS SUMMARY: Trump, Biden Wrap Up Campaigns As US Polls Open

Read more
3 Nov 2020 10:22

TOP NEWS: G4S Rejects Another Offer As Bidding War Kicks Off

TOP NEWS: G4S Rejects Another Offer As Bidding War Kicks Off

Read more
3 Nov 2020 09:37

UPDATE 2-London's FTSE 100 logs best day in two months as banks surge

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* BoE expected to ramp up asset purchase programme* Crest Nicholson surges on upbeat profit outlook* Regus operator IWG jumps as it sees impr...

Read more
3 Nov 2020 09:35

G4S rejects takeover offer from Allied Universal

(Sharecast News) - Security services firm G4S confirmed on Tuesday that it had rejected a takeover offer from US rival Allied Universal.

Read more
29 Oct 2020 11:02

G4S Updates Targets, Advises Investors To Reject GardaWorld Offer

G4S Updates Targets, Advises Investors To Reject GardaWorld Offer

Read more
29 Oct 2020 08:35

G4S further pleas with shareholders to reject 190p GardaWorld offer

(Sharecast News) - G4S issued a further plea to shareholders to reject the unsolicited offer for the company from privately-held Canadian firm GardaWorld on Thursday, reiterating that it believed the 190p-per-share offer "significantly undervalues" G4S, describing it as "nowhere near a full and fair price".

Read more
19 Oct 2020 09:08

Garda World Approaches G4S Investors Directly Amid Board Opposition

Garda World Approaches G4S Investors Directly Amid Board Opposition

Read more
19 Oct 2020 07:17

G4S again rejects Gardaworld £3bn bid

(Sharecast News) - Security firm G4S on Monday again rejected GardaWorld's £3bn offer as the Canadian company posted full details of its 190p-a-share bid.

Read more
18 Oct 2020 11:39

G4S urges shareholders to reject GardaWorld offer

LONDON, Oct 18 (Reuters) - British security company G4S on Sunday recommended its investors reject the hostile takeover offer sent to shareholders by Canadian rival GardaWorld the previous day.The offer document details a cash bid at 190 pence per...

Read more
14 Oct 2020 09:32

G4S Reports "Resilient" Trading Helped By Cost Savings, New Contracts

G4S Reports "Resilient" Trading Helped By Cost Savings, New Contracts

Read more
14 Oct 2020 08:17

G4S nine-month earnings rise amid tight cost control

(Sharecast News) - Security services firm G4S said on Wednesday that underlying earnings in the first nine months of 2020 remain ahead of last year as a decline in revenue was offset by cost control and reduced interest costs.

Read more
9 Oct 2020 17:05

LONDON MARKET CLOSE: Stocks End Higher On New UK Jobs Support Package

LONDON MARKET CLOSE: Stocks End Higher On New UK Jobs Support Package

Read more
9 Oct 2020 14:15

G4S In Takeover Talks With Allied Universal Security Services

G4S In Takeover Talks With Allied Universal Security Services

Read more
9 Oct 2020 13:53

UPDATE 2-Second potential G4S suitor swoops in amid GardaWorld's hostile bid

(Updates shares, adds background, response from Allied Universal)By Yadarisa ShabongOct 9 (Reuters) - Private security firm G4S said on Friday that U.S. rival Allied Universal has expressed interest in making an offer for the British company, whic...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.