'Humiliated' G4S to claim millions (From Lancashire Telegraph)

'Humiliated' G4S to claim millions

6:16pm Tuesday 17th July 2012 in National Sport © Press Association 2013

G4S bosses have insisted they would be claiming tens of millions of pounds in management fees despite being 100 per cent responsible for a "humiliating shambles".

Nick Buckles, chief executive of the world's second largest private sector employer, admitted he was sorry and "deeply disappointed" after the firm failed to deliver on its £284million Olympics security contract.

But he repeatedly insisted the firm still intended to claim its £57million management fee for work over the last two years, even though it cannot provide the guards needed for the Games.

Keith Vaz, chairman of the Commons Home Affairs Select Committee, said it was "astonishing" and called on G4S to waive the fee and any others associated with the contract.

Mr Buckles is under pressure to quit his £830,000-a-year job over the fiasco, which has resulted in the emergency deployment of soldiers, marines, airmen and police officers and seen £700million wiped off the market value of G4S.

He admitted he could not deny that the debacle was a "humiliating shambles for the company" and the firm's reputation was now in tatters.

Mr Buckles promised the firm would pay all police and military costs caused by G4S's failure, would cover any accommodation expenses and would even consider paying bonuses to individual officers and troops if considered appropriate.

But asked by Mr Vaz why the firm still wanted to claim its management fee, Mr Buckles said: "We've managed the contract and we've had management on the ground for two years.

"We still expect to deliver a significant number of staff."