{"id":59670,"date":"2019-07-09T09:47:02","date_gmt":"2019-07-09T08:47:02","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=59670"},"modified":"2019-07-09T09:47:02","modified_gmt":"2019-07-09T08:47:02","slug":"durtnell-sons-crisis","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/","title":{"rendered":"Collapse of Durtnell & Sons confirms construction crisis, says SEC"},"content":{"rendered":"

The Specialist Engineering Contractors\u2019<\/a> (SEC) Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is further confirmation of the financial crisis hitting the industry<\/h2>\n

Last week Durtnell & Sons, owned by the same family for almost 430 years, went into insolvency<\/a>. Durtnell will become just another statistic in a wave of insolvencies impacting the construction industry, making it the sector with the highest number of insolvencies.<\/p>\n

Whenever construction firms go into insolvency, the retentions withheld from their supply chain are invariably lost. An examination of Durtnell\u2019s March 2019 accounts shows that retentions totalling \u00a3630,000 are owed to Durtnell, but the bulk of those retentions would have been deducted from their supply chain payments<\/a>.<\/p>\n

Additionally, the low level of retentions for their Brighton project (only \u00a310k for a \u00a321m project) suggests that Durtnell & Sons owe substantially more to their supply chain.<\/p>\n

At the top of the industry, the extremely weak balance sheets of the largest UK contractors are creating a \u2018ticking time-bomb\u2019. Trade credit insurers are now withdrawing cover from many of these companies leaving their supply chains wholly exposed, according to SEC Group.<\/p>\n

Rudi Klein, the SEC Group CEO said: \u201cWhilst it is extremely sad to lose such a long-established firm, there is now concern for Durtnell\u2019s sub-contractors.<\/p>\n

\u201cThe retention monies belong to the businesses \u2013 mostly SMEs \u2013 in Durtnell\u2019s supply chain and for the most part would have represented their profit margins. The Government must now act to adopt Peter Aldous Bill<\/a>, already in Parliament, that protect these monies from upstream insolvencies.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is further confirmation of the financial crisis hitting the industry.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[20347,676,636,283],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-59670","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-administration","8":"tag-construction","9":"tag-engineering","10":"tag-finance"},"acf":[],"yoast_head":"\nCollapse of Durtnell & Sons confirms construction crisis, says SEC<\/title>\n<meta name=\"description\" content=\"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is confirmation of the crisis hitting the industry\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Collapse of Durtnell & Sons confirms construction crisis, says SEC\" \/>\n<meta property=\"og:description\" content=\"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is further confirmation of the financial crisis hitting the industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/\" \/>\n<meta property=\"og:site_name\" content=\"Planning, Building & Construction Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/PBCToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-09T08:47:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2019\/07\/Collapse-of-Durtnell-Sons-confirms-financial-construction-crisis-says-SEC-\u00a9-Carlospataro-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1358\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steph Blundell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Collapse of Durtnell & Sons confirms construction crisis, says SEC\" \/>\n<meta name=\"twitter:description\" content=\"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is further confirmation of the financial crisis hitting the industry.\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/Steph_PBCToday\" \/>\n<meta name=\"twitter:site\" content=\"@PBC_Today\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/\"},\"author\":{\"name\":\"Steph Blundell\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\"},\"headline\":\"Collapse of Durtnell & Sons confirms construction crisis, says SEC\",\"datePublished\":\"2019-07-09T08:47:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/\"},\"wordCount\":268,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"keywords\":[\"Administration\",\"Construction Processes\",\"Engineering\",\"Financing\"],\"articleSection\":[\"Planning & Construction News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/\",\"name\":\"Collapse of Durtnell & Sons confirms construction crisis, says SEC\",\"isPartOf\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\"},\"datePublished\":\"2019-07-09T08:47:02+00:00\",\"description\":\"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is confirmation of the crisis hitting the industry\",\"breadcrumb\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.pbctoday.co.uk\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Collapse of Durtnell & Sons confirms construction crisis, says SEC\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#website\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"name\":\"Planning, Building & Construction Today\",\"description\":\"The Latest Planning, Building & Construction News\",\"publisher\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#organization\",\"name\":\"Planning, Building & Construction Today\",\"alternateName\":\"PBC Today\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"contentUrl\":\"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Planning, Building & Construction Today\"},\"image\":{\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/PBCToday\/\",\"https:\/\/x.com\/PBC_Today\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb\",\"name\":\"Steph Blundell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g\",\"caption\":\"Steph Blundell\"},\"description\":\"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk\",\"sameAs\":[\"https:\/\/www.pbctoday.co.uk\",\"https:\/\/www.linkedin.com\/in\/steph-blundell\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday\"],\"url\":\"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Collapse of Durtnell & Sons confirms construction crisis, says SEC","description":"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is confirmation of the crisis hitting the industry","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/","og_locale":"en_US","og_type":"article","og_title":"Collapse of Durtnell & Sons confirms construction crisis, says SEC","og_description":"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is further confirmation of the financial crisis hitting the industry.","og_url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/","og_site_name":"Planning, Building & Construction Today","article_publisher":"https:\/\/www.facebook.com\/PBCToday\/","article_published_time":"2019-07-09T08:47:02+00:00","og_image":[{"width":2000,"height":1358,"url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2019\/07\/Collapse-of-Durtnell-Sons-confirms-financial-construction-crisis-says-SEC-\u00a9-Carlospataro-.jpg","type":"image\/jpeg"}],"author":"Steph Blundell","twitter_card":"summary_large_image","twitter_title":"Collapse of Durtnell & Sons confirms construction crisis, says SEC","twitter_description":"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is further confirmation of the financial crisis hitting the industry.","twitter_creator":"@https:\/\/twitter.com\/Steph_PBCToday","twitter_site":"@PBC_Today","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#article","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/"},"author":{"name":"Steph Blundell","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb"},"headline":"Collapse of Durtnell & Sons confirms construction crisis, says SEC","datePublished":"2019-07-09T08:47:02+00:00","mainEntityOfPage":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/"},"wordCount":268,"commentCount":0,"publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"keywords":["Administration","Construction Processes","Engineering","Financing"],"articleSection":["Planning & Construction News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#respond"]}],"copyrightYear":"2019","copyrightHolder":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/","url":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/","name":"Collapse of Durtnell & Sons confirms construction crisis, says SEC","isPartOf":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#website"},"datePublished":"2019-07-09T08:47:02+00:00","description":"The SEC Group has warned that the collapse of Britain\u2019s oldest building company, Durtnell & Sons, is confirmation of the crisis hitting the industry","breadcrumb":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/durtnell-sons-crisis\/59670\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.pbctoday.co.uk\/news\/"},{"@type":"ListItem","position":2,"name":"Collapse of Durtnell & Sons confirms construction crisis, says SEC"}]},{"@type":"WebSite","@id":"https:\/\/www.pbctoday.co.uk\/news\/#website","url":"https:\/\/www.pbctoday.co.uk\/news\/","name":"Planning, Building & Construction Today","description":"The Latest Planning, Building & Construction News","publisher":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.pbctoday.co.uk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.pbctoday.co.uk\/news\/#organization","name":"Planning, Building & Construction Today","alternateName":"PBC Today","url":"https:\/\/www.pbctoday.co.uk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","contentUrl":"https:\/\/www.pbctoday.co.uk\/news\/wp-content\/uploads\/2022\/01\/pbctoday-logo-yoast-seo-organisation-1920-1080-001.jpg","width":1920,"height":1080,"caption":"Planning, Building & Construction Today"},"image":{"@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/PBCToday\/","https:\/\/x.com\/PBC_Today"]},{"@type":"Person","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/baf6766a43e70a35cada0c600519a2fb","name":"Steph Blundell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.pbctoday.co.uk\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/62283f53e7b9ae55cd3516832342b97ce87c86f2c2130dfce68124d194b36df8?s=96&d=mm&r=g","caption":"Steph Blundell"},"description":"Steph is the Senior Digital Editor here at PBC. When she\u2019s not working hard on cranking out first-class content for our online viewers to enjoy, she\u2019s keeping our social media lively and up to date\u2026 you could call her a social media guru? We\u2019re sure she\u2019d like that. With a BA in English and Journalism, Steph isn\u2019t fazed by attention to detail; on the contrary, she enjoys getting her teeth into a good article. In her downtime Steph loves nothing more than getting together with friends to enjoy a few (several) gin and tonics. Think you\u2019ve got some content Steph would be interested in? You can contact her either by phone on (01270) 502876 or by email at sblundell@pbctoday.co.uk","sameAs":["https:\/\/www.pbctoday.co.uk","https:\/\/www.linkedin.com\/in\/steph-blundell\/","https:\/\/x.com\/https:\/\/twitter.com\/Steph_PBCToday"],"url":"https:\/\/www.pbctoday.co.uk\/news\/author\/stephblundell\/"}]}},"publishpress_future_action":{"enabled":false,"date":"2026-10-22 15:25:50","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/59670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/comments?post=59670"}],"version-history":[{"count":0,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/posts\/59670\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/media?parent=59670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/categories?post=59670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/tags?post=59670"},{"taxonomy":"stakeholder_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/stakeholder_rel_tag?post=59670"},{"taxonomy":"contributor_rel_tag","embeddable":true,"href":"https:\/\/www.pbctoday.co.uk\/news\/wp-json\/wp\/v2\/contributor_rel_tag?post=59670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}