Construction news

• TopHat confirms winding down volumetric operation

  21-10-2024 22:47
  
  Volumetric offsite house builder TopHat is winding down its factory operation.
  The Goldman Sachs-backed firm blamed dwindling orders for the decision to open consultations with the workforce at its factory near Derby.
  TopHat said the planned wind-down would see all factory orders completed.Overall TopHat’s accumulated losses stand at around £87m since being established in 2016.
  A company statement said: “In response to the challenging market environment over the last several ye
  
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• TopHat confirms winding down of volumetric operation

  21-10-2024 22:47
  
  Volumetric offsite house builder TopHat is winding down its factory operation.
  The Goldman Sachs-backed firm blamed dwindling orders for the decision to open consultations with the workforce at its factory near Derby.
  TopHat said the planned wind-down would see all factory orders completed.Overall TopHat’s accumulated losses stand at around £87m since being established in 2016.
  A company statement said: “In response to the challenging market environment over the last several ye
  
  Read more

• ISG suppliers facing initial £180m hit

  21-10-2024 10:19
  
  Administrators sifting through the rubble of the ISG collapse have already identified £180m in unpaid bills for the failed contractor’s supply chain.
  Updates posted at Companies House cover all of the group’s defunct businesses apart from the fit-out division.
  An initial statement of affairs for the main construction division, signed-off by CEO Zoe Price, shows current claims of £89.8m from trade creditors.The list of hundreds of firms includes 13 subcontractors owed more
  
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• Blenheim House subbies to get 10p in the £1

  21-10-2024 09:29
  
  Subcontractors and suppliers owed around £19m following the collapse of Surrey-based contractor Blenheim House Construction could get around 10% of what they are owed.
  Administrators from Evelyn Partners which took control in July of the £87m turnover business revealed they hoped to be able to return around 10p in the pound to the 552 unsecured creditors.
  This includes nearly £2m owed to around 80 former staff at the business.Administrators said they were hopeful of some recove
  
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• JRL returns to profit after two years of losses

  21-10-2024 09:01
  
  Diversified construction group JRL has returned to profit in the first six months of this year after the ‘most challenging’ two years in the firm’s history.
  Latest annual results for the business revealed the firm fell £36m into the red last year and, after restating prior year accounts, recorded a further £47m pre-tax loss in 2022, due mainly to the McMullen Facades business, bought back in 2017.
  Despite the challenging market conditions, JRL grew revenue by 8.5% t
  
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• Subcontractor to step-in to save £108m ISG job

  21-10-2024 08:58
  
  Cardiff Council has drawn-up plans to “safeguard the £108m Fairwater Campus project from the fallout of ISG Construction Ltd going into administration.”
  Work stopped on the new school site last month when ISG went into administration and the council is looking to novate the existing contracts to a subcontractor who had been working on the project.
  The subcontractor will take-on the job an on interim basis to keep work going while a tender process is launched next month to find
  
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• Bid race for £225m Network Rail building works deal

  21-10-2024 08:48
  
  Network Rail has started the hunt for contractors to deliver a planned £225m programme of upgrade and repair works to its properties.
  The new Property Construction and Refurbishment Works framework will operate from 2025 until 2030 and cover all regions including Scotland.
  Anticipated works cover a wide range of construction projects, including renovation and refurbishment of existing commercial and industrial properties and the construction of new properties across Network Rail’s es
  
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• Cost-row Cambridgeshire road closed as cracks appear

  21-10-2024 08:41
  
  Parts of a new £32m bypass and bridge in Cambridgeshire have been closed after cracks appeared.
  Engineers are now monitoring the King’s Dyke Crossing at Whittlesey which is being affected by movement in the main embankment which supports the crossing.
  The bridge opened in 2022 and was originally due to be built by Kier but the firm walked away from the job in 2019 after failing to agree a price for the project after raising concerns about ground conditions.At the time a Kier spokespe
  
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• Cost-row Cambridge road closed as cracks appear

  21-10-2024 08:41
  
  Parts of a new £32m bypass and bridge in Cambridge have been closed after cracks appeared.
  Engineers are now monitoring the King’s Dyke Crossing at Whittlesey which is being affected by movement in the main embankment which supports the crossing.
  The bridge opened in 2022 and was originally due to be built by Kier but the firm walked away from the job in 2019 after failing to agree a price for the project after raising concerns about ground conditions.At the time Kier spokesperson sa
  
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