The holding group for building services specialist Lorne Stewart and Rotary Building Services has suffered further losses. Accounts for Saudi Arabian-owned LSRM Holdings in the year to December 2023 reveal the Harrow-based M&E group suffered a £2.8m pre-tax loss last year after a small profit of around £450,000 in each of the previous two years.
Clients are being urged to ease bond conditions as contractors struggle to get cover in a tightening market. The Enquirer revealed yesterday that insurance giant QBE is pulling-out of the construction bonds market for major contractors. The news sent shock waves through the industry raising fears that new projects could be delayed. Now contractors are
Four construction workers were taken to hospital on Wednesday morning following an accident on a site in Edinburgh. Eye-witnesses told local paper The National that a wall collapsed after being hit by a crane. Four men were taken from the site to the Royal Infirmary of Edinburgh and their condition is currently unknown. A Scottish
Balfour Beatty has secured a £192m job to construct three new substations in Argyll, Scotland, on behalf of SSEN Transmission. The contract has been awarded through the GIS2 RIIO T2 framework, to which the company was appointed in 2022. Balfour will unite its Power Transmission & Distribution expertise with its regional capabilities in Scotland, to
Plans to build a mini Eden project at the site of a former gas works in Dundee have got the green light. Work to create an Eden Project on the East Dock Street site of the city would include the conversion of the existing gasholder and demolition of other buildings on the site. A separate
Business insurance giant QBE Europe is pulling-out of the construction bonds market for major contractors. QBE is a major player in the surety bonds market and the move will be a massive blow to main contractors already struggling to get cover. One contractor said: “QBE are a key provider in the construction market so this
United Utilities has announced another 18 partners who will help to deliver the largest environmental water programme in the North West in more than a century The water giant recently confirmed seven partners who will help to deliver major infrastructure projects for the company between 2025 and 2030. The 18 announced today are detailed design
Great Places Housing Group has appointed just over 100 contractors and consultants to its £1.5bn Innovation Chain North framework for the next four years. Caddick, Countryside Properties, Lovell, P Casey, Termrim and Seddon were among the firms securing spots on the largest value lots in both the western of eastern regions of the north. The
Scottish civil engineering and groundworks specialist Advance Construction Group is understood to be in final talks to buy a minority stake in piling specialist Northern Piling Ltd. Belshill-based Advance Construction is one of Scotland’s largest civls and groundworks firms employing around 470 staff and turning over around £300m. It is understood to be aiming to
North Yorkshire-based steelwork specialist SH Structures fell into administration owing £4.5m to suppliers and usbcontractors. The scale of the firm’s debts have been revealed in an update posted at Companies House. SH Structures also owed HMRC £370,000 and its employees nearly £1m. The firm went into administration in April when all of its 67 staff
