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construction insolvencies

Will construction insolvencies rise in 2022?

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.
construction growth

Grant Thornton handed £1.3m fine for Interserve audits

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 nmcn infrastructure

Keltbray buys nmcn’s infrastructure assets

Keltbray has acquired a portfolio of infrastructure contracts and associated assets from nmcn, which will save 117 jobs.
galliford try nmcn water

Galliford Try acquires nmcn water business for £1m

Galliford Try has acquired nmcn’s water business, including Lintott, after the company fell into administration.
galliford try nmcn water

680 jobs saved as Svella acquires nmcn divisions

Svella has acquired the telecoms, plant hire, transport and accommodation divisions of nmcn out of administration, saving over 680 jobs.
galliford try nmcn water

nmcn falls into administration

nmcn has fallen into administration after the board reveals the contractor is no longer able to continue trading as a going concern.
cleveland bridge redundancy

Cleveland Bridge: Redundancy warning as administrators fail to find buyer

Employees at engineering company Cleveland Bridge are being advised to prepare for redundancies as administrators fail to find a buyer.
cleveland bridge jobs

53 jobs cut at Cleveland Bridge

Administrators at steelwork contractor Cleveland Bridge have confirmed that 53 workers will be made redundant.
Cleveland Bridge administration

Cleveland Bridge on the brink of collapse with 300 jobs at...

Cleveland Bridge, a structural engineer founded 144 years ago, has fallen into administration, as administrators say the Covid-19 pandemic is to blame.
contractor insolvency,

What you need to consider if your contractor goes bust

Ian Timlin, specialist dispute resolution and commercial litigation lawyer at Conexus Law, explores the factors to consider if faced with contractor insolvency.
adjudicate in construction contracts, insolvent claimants,

Insolvent claimants and the right to adjudicate in construction contracts

Peter Vinden, chief executive of Gateley Vinden, explores insolvent claimants and the right to adjudicate in construction contracts.

Carillion directors face being barred from boardroom roles

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’.
social housing, Henry Boot,

Henry Boot puts social housing division into liquidation

Henry Boot has put its social housing arm, Starfish Commercial, into voluntary liquidation.
Cruden Construction,

100 job losses at Cruden

Administrators from KPMG have been officially appointed to oversee the collapse of Cruden Construction, as 100 employees are made redundant.
BIM projects

Cruden Construction prepares to appoint administrator

Cheshire-based Cruden Construction has filed a notice of intent to appoint an administrator.
insolvency, construction industry,

Insolvency and the construction industry in the wake of Covid-19

Michael Gerard of Michael Gerard Solicitors explains how businesses can protect themselves against insolvency in the aftermath of Covid-19.
negligence lawsuit, KPMG,

KPMG’s Carillion negligence lawsuit reveals ‘rotten system’

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

Central Building Contractors falls into administration

Central Building Contractors has fallen into administration, as 148 employees are immediately made redundant.
Golden thread, data, administration,

Insolvency and data: Severing the Golden Thread

Should asset owners insource data when commissioning building and infrastructure developments? Stuart Bell of GroupBC, part of the Bentley Systems family, takes a look.
CPUK,

Problem contracts & bad debt cripples CPUK

The Construction Partnership UK Limited (CPUK) has filed for administration following financial issues caused by a combination of problem contracts and bad debts.
constructions companies,

Unpaid construction invoices to reach £1.5bn due to COVID-19

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,

Small builders need urgent support from Government, says FMB

Small builders need urgent support from the government to avoid industry-wide job losses and insolvencies, says the Federation of Master Builders (FMB).
British Steel, Jingye,

Parts of British Steel sold to Chinese steelmaker Jingye

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).
Harry Fairclough Construction,

Harry Fairclough Construction falls into administration

After more than 120 years in business, Warrington-based contractor Harry Fairclough Construction has gone into administration.
British Steel, Barrett Steel,

Barret Steel confirms intention to acquire sites from British Steel

Barrett Steel, the largest steel stockholder in the UK, has confirmed its intentions to purchase a number of British Steel UK distribution centres.
late payments, construction industry,

Government action on late payments in construction ‘insufficient’, says AAT

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.

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