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Ben Harwood, head of asset recovery at Naismiths, asks whether we should be bracing for a second wave of construction firms going bust in 2022.
The Financial Reporting Council (FRC) has fined Grant Thornton £1.3m for the statutory audits of the 2015-2017 financial statements of Interserve plc.
Keltbray has acquired a portfolio of infrastructure contracts and associated assets from nmcn, which will save 117 jobs.
Galliford Try has acquired nmcn’s water business, including Lintott, after the company fell into administration.
Svella has acquired the telecoms, plant hire, transport and accommodation divisions of nmcn out of administration, saving over 680 jobs.
nmcn has fallen into administration after the board reveals the contractor is no longer able to continue trading as a going concern.
Employees at engineering company Cleveland Bridge are being advised to prepare for redundancies as administrators fail to find a buyer.
Administrators at steelwork contractor Cleveland Bridge have confirmed that 53 workers will be made redundant.
Cleveland Bridge, a structural engineer founded 144 years ago, has fallen into administration, as administrators say the Covid-19 pandemic is to blame.
Ian Timlin, specialist dispute resolution and commercial litigation lawyer at Conexus Law, explores the factors to consider if faced with contractor insolvency.
Peter Vinden, chief executive of Gateley Vinden, explores insolvent claimants and the right to adjudicate in construction contracts.
The move to start legal steps to bar eight former directors of Carillion from top boardroom positions has been welcomed by Unite the union – but ‘should have come much sooner’.
Henry Boot has put its social housing arm, Starfish Commercial, into voluntary liquidation.
Administrators from KPMG have been officially appointed to oversee the collapse of Cruden Construction, as 100 employees are made redundant.
Cheshire-based Cruden Construction has filed a notice of intent to appoint an administrator.
Michael Gerard of Michael Gerard Solicitors explains how businesses can protect themselves against insolvency in the aftermath of Covid-19.
Reports that accountancy firm KPMG is facing a £250m negligence lawsuit over its role in Carillion’s collapse highlights the need for Government to address the UK’s ‘rotten system of bandit capitalism’, urges Unite.
Central Building Contractors has fallen into administration, as 148 employees are immediately made redundant.
Should asset owners insource data when commissioning building and infrastructure developments? Stuart Bell of GroupBC, part of the Bentley Systems family, takes a look.
The Construction Partnership UK Limited (CPUK) has filed for administration following financial issues caused by a combination of problem contracts and bad debts.
The economic disorder caused by the coronavirus pandemic will mean constructions companies have to write-off £1.5bn in unpaid invoices in 2021, according to new analysis.
Small builders need urgent support from the government to avoid industry-wide job losses and insolvencies, says the Federation of Master Builders (FMB).
Certain parts of the business and assets of British Steel Ltd (BSL) have been officially sold to Jingye Steel (UK) Ltd and Jingye Steel (UK) Holding Ltd (together Jingye).
After more than 120 years in business, Warrington-based contractor Harry Fairclough Construction has gone into administration.
Barrett Steel, the largest steel stockholder in the UK, has confirmed its intentions to purchase a number of British Steel UK distribution centres.
As the issue of late payment continues to overshadow construction, Phil Hall of the Association of Accounting Technicians (AAT), says maximum payment terms must be shortened and a clear, simple financial penalty regime for persistent late payers is essential.