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G4S loss on Olympics contract

Security company G4S today said it will incur a loss of £70 million on its bungled Olympics contract, more than the £50 million previously estimated.

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G4S reach settlement with government over Olympics contract

G4S failed to provide all of its 10,400 contracted guards during the London 2012 Olympic Games, which meant the Government was forced to call in military personnel to provide extra security.

The two sides have since been in talks over a final settlement for the £240 million security contract.

British Army personnel patrol the Olympic Park in Stratford during the London 2012 Games. Credit: Owen Humphreys/PA Archive/Press Association Images

Two G4S directors resigned in the wake of an independent review into the company's botched London Olympics contract, when the group only fulfilled 83% of contracted shifts.

Chief operating officer David Taylor-Smith and Ian Horseman Sewell, who was head of global events, carried the can for the fiasco, but Mr Buckles stayed in his post.

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