V8Druid
do it as well as you can,but learn to do it better
rarely do
Lancs Lad
Well-known member
Experts warn of record-breaking wave of insolvencies in construction
Experts warn of record breaking number of insolvencies in construction after 308 construction companies entered insolvency in February 2023
www.pbctoday.co.uk
S
Stroppymonkey
Well-known member
I've got a builder dicking me about for 6K. Getting worried now.Experts warn of record-breaking wave of insolvencies in construction
Experts warn of record breaking number of insolvencies in construction after 308 construction companies entered insolvency in February 2023
Vinpetrol
Well-known member
An outfit up here went down last week . Ptmarigan homes . They were a reincarnation of Roy homes from a few years ago . They've taken a lot of money of customers way ahead of the value that the builds are at. They've also knocked loads of subbys. My mate lost at least 6.5k 
V8Druid
do it as well as you can,but learn to do it better
now is the time to take action then
V8Druid
do it as well as you can,but learn to do it better
some interesting reading, if a little scantExperts warn of record-breaking wave of insolvencies in construction
Experts warn of record breaking number of insolvencies in construction after 308 construction companies entered insolvency in February 2023
" "Unless the economic picture improves, high levels of business failures are guaranteed.”
Abuse of the government Covid-19 Bounce Back Loan Scheme accounted for 50% of disqualifications
During the financial year 2022/23 932 directors were disqualified – a 16% increase on 2021/22.It is estimated that around 50% of these disqualifications included an allegation relating to abuse of the government’s Covid-19 Bounce Back Loan Scheme.
Suky Mann, principal associate in Higgs’ Restructuring and Insolvency team, commented: “With Government figures suggesting that Bounce Back fraud has resulted in an estimated £3.5bn in losses, we suspect this is the mere tip of the iceberg in a raft of disqualifications to come in the next 12 months.
“It’s not just directors of insolvent companies that have felt the full force of the Insolvency Service.
“In December 2021 the Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Act 2021 gave the Insolvency Service new powers to disqualify directors of dissolved companies.” "
Vinpetrol
Well-known member
I've got some customers owing me too much . It's not the timescales it's been owed it's more the amount goes up quickly when you're supplying plant Labour and materials .I need to change the way I invoice. Maybe deposit prior to start or something .
pettsy
Well-known member
Im too trusting, and have never invoiced until a job is finished. I’ve got a customer dragging out paying me just over 6k for a job I started 12 months ago, and finished/invoiced the end of April. My own fault, need to do staged payments from now on with the larger jobs.
Vinpetrol
Well-known member
I used to do that all the time but because of the amounts of money Ive been shelling out I started invoicing weekly. It works well most of the time but a slow payer over 4-6 weeks and I can be waiting on 20-30k
Quattromike
Well member-known
Quite alot of our customers are distilleries and they seem to think 3 months is acceptable, I mean can't really complain about it, they always pay eventually
Vinpetrol
Well-known member
The thing is , they don't go bust . They must be one of the best customers you can have. I work through a main contractor to Glenmorangie and I know I can let that slide as it will definitely come. I don't do an awful lot for them though . I would love to do more right enough !Quite alot of our customers are distilleries and they seem to think 3 months is acceptable, I mean can't really complain about it, they always pay eventually
Quattromike
Well member-known
We've got a bit of kit going to Muir of Ord in a few weeks to the malting plant and there's been a civils contractor in there for months sorting a 3m wide base to sit it on, digging up all sorts of pipes and drains nobody knew what for and sorting it all out. I wish I could get on that kinda contracts
Vinpetrol
Well-known member
Ive just moved from that road . I know off the contractor ! we priced some of the tree removal work against him that was part of that contract you are talking about . I kept price keen to try and get in . He done it for nothing to keep me out. It was breaking my heart driving past that big liebherr sitting there week after week . He gets nearly everything in there .We've got a bit of kit going to Muir of Ord in a few weeks to the malting plant and there's been a civils contractor in there for months sorting a 3m wide base to sit it on, digging up all sorts of pipes and drains nobody knew what for and sorting it all out. I wish I could get on that kinda contracts
V8Druid
do it as well as you can,but learn to do it better
used to do a lot of crane hire into BSC Llanwern/Ebbwvale/Portalbot/Tredegar/etc. and they went from 60 to 75 to 90 days ... when they wanted to got to 120 days it was the end of our relationship .. couldn't bump the rates to account for it as there was always someone'd put a machine in ... in theory the money was 'as safe as you'd get', but at cut throat prices it just didn't pay any longer, waiting that long.Quite alot of our customers are distilleries and they seem to think 3 months is acceptable, I mean can't really complain about it, they always pay eventually
Quattromike
Well member-known
Maybe you don't play at the right golf club
Vinpetrol
Well-known member
my handshakes not right eitherMaybe you don't play at the right golf club
Quattromike
Well member-known
Maybe it's not their hands you should be shaking 🫨
Nick...
Well-known member
Bigger they are the worse they get.done some work for Balfour Beatty for British rail over 20 years ago.less than £200 for days work and invoiced with all relevant information.chased it for 5 months and then wrote to managing director and eventually got paid.totally unacceptable.all big companies are the same and demanding all manner of paperwork to slow paying,or not answering phone or appropriate person never there.finning are worst ever experienced for this.I’m glad I’m pretty much finished my site work days.the owner operator which is or was me just get screwed over all the time.
nick…
nick…
D
DaveDCB
Well-known member
I’m getting more and more price reduction emails from suppliers, speaking to delivery drivers they are all saying they are only going to big builds/sites. Hardly any residential jobs anymore.. which is where I assume most of these small builders were on,
Lancs Lad
Well-known member
Issa brothers announce £2bn sale of EG Group to Asda
The value of it all comes to £2.27bn
Footer block 1