| St Andrews on 01:16 - Aug 18 with 5171 views | Boston |
Tommy has builders working for him 24/7. |  |
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| St Andrews on 07:40 - Aug 18 with 4858 views | Lblock |
Sad thing is there’s every chance Birmingham would be part of Buckingham Groups issues as lots of the time this is due to cash flow and non payment by Clients
That aside, depending on how payment’s structured, Brum could actually profit from this.
I’d imagine it’s been a long old time since the ground was full capacity in any case |  |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| St Andrews on 08:35 - Aug 18 with 4641 views | CheshireR |
That's not correct.
Laing O Rourke are the main contractors for Everton. [Post edited 18 Aug 2023 10:08]
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| St Andrews on 09:37 - Aug 18 with 4428 views | HaslingtonR |
| St Andrews on 08:35 - Aug 18 by CheshireR |
That's not correct.
Laing O Rourke are the main contractors for Everton. [Post edited 18 Aug 2023 10:08]
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You are right. It's Liverpool's new stand that they are involved with. I mixed up in my mind the article about the worker being killed at Everton's new stadium. | | | |
| St Andrews on 10:44 - Aug 18 with 4213 views | wombat |
| St Andrews on 09:37 - Aug 18 by HaslingtonR |
You are right. It's Liverpool's new stand that they are involved with. I mixed up in my mind the article about the worker being killed at Everton's new stadium. |
another big construction company goes down the tolet second big one in a month with loads of sub contractors taking the hit as well |  |
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| St Andrews on 12:01 - Aug 18 with 4022 views | Lblock |
| St Andrews on 10:44 - Aug 18 by wombat |
another big construction company goes down the tolet second big one in a month with loads of sub contractors taking the hit as well |
Exactly that.
Totally wrong and exposes the house of cards the industry can be at times
A lot wrong with my company but our global standing and the approach I’m able to take with ensuring people are paid promptly means we get good subbies working for us.
Such a shame | |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| St Andrews on 13:45 - Aug 18 with 3788 views | NorthantsHoop |
The non completion and enduring debacle of Northampton Town's East stand continues with the Buckingham Group going bust.. |  | | |
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| St Andrews on 14:34 - Aug 18 with 3610 views | Paddyhoops |
| St Andrews on 10:44 - Aug 18 by wombat |
another big construction company goes down the tolet second big one in a month with loads of sub contractors taking the hit as well |
As an employee for small building company, we are left waiting months for payments from large main contractors .
Legistation was supposed to have been put in place to speed up payments by various governments however it hasn’t really happened.
The same companies are large donors to political parties so no surprises there. | | | |
| St Andrews on 16:11 - Aug 18 with 3391 views | hantssi |
| St Andrews on 12:01 - Aug 18 by Lblock |
Exactly that.
Totally wrong and exposes the house of cards the industry can be at times
A lot wrong with my company but our global standing and the approach I’m able to take with ensuring people are paid promptly means we get good subbies working for us.
Such a shame |
That’s pretty unique for a main (principle) contractor.
In years gone by I’ve been into their site offices and actually seen a sign on the wall “screw the subby”! | | | |
| St Andrews on 17:27 - Aug 18 with 3206 views | ParkRoyalR |
It was Fulham's new Riverside Stand that was the initial catalyst in Buckingham's collapse.
5 years on site, land-locked, deliveries by barge down the Thames, roof-top swimming pool, penthouses, the lot..
Who in there right mind would take on that job on a fixed price, complete insanity. | | | |
| St Andrews on 18:41 - Aug 18 with 3078 views | ted_hendrix |
From the Construction News; (Jackers Journal).
17 AUG 2023 BY IAN WEINFASS
Major contractor Buckingham Group has stopped trading, becoming the largest contractor to do so since Carillion’s collapse in January 2018.
The £665m-turnover firm, which has Liverpool FC’s new Anfield Road Stand among its ongoing projects, filed a notice of intention to appoint administrators on Wednesday (16 August).
A statement from the company today said it had suffered deep losses on three unnamed stadium and arena contracts, as well as a “substantial earthworks job” in Coventry.
A statement from the firm said: “Over several months and right up to this week, the board has worked with specialist advisors to seek to bring substantial new investment into the business that would have enabled the company to continue trading as a going concern without interruption. However, this initiative has ultimately met without success.”
The hit on the four contracts combined with the impact of inflation and “other challenges in the sports and leisure division” contributed to the firm's financial issues, the statement said.
It said: “It is with immeasurable regret that the Buckingham board has to announce that rapidly escalating contract losses and a sharp reduction in liquidity, together mean the company is unable to continue trading at this current time. We know that this will come as a shock to all our valued stakeholders.”
The statement added that the board will “liaise with clients and interested parties to optimise any solution” as they look to sell it.
“We emphasise the company is currently not in administration. Our main aim at present is to seek to protect jobs and to preserve as much of the business as possible.”
In its last set of published accounts, for the year to 31 December 2021, it posted a pre-tax loss of £10.7m, blaming an “anticipated” £14.2m hit from its work on redeveloping the Riverside Stand at Fulham FC’s Craven Cottage stadium, due to a subcontractor going under. The final loss was subject to further negotiation with the west London club.
A notice of intention to appoint administrators gives a company 10 days’ protection from action by creditors.
Last month the company was hit by a winding-up order from plant firm Granada Material Handling, although this was withdrawn after a week.
Buckingham, which employs around 660 people, said it was looking to sell all or part of the business.
In late July, Ian McSeveney stepped down as group managing director, with the firm citing long-term health reasons. He was replaced by Simon Walkley, who was promoted from his previous role as deputy group managing director.
Buckingham has built a reputation as a stadium specialist in recent years, delivering extensions for several major clubs and Brentford FC’s new ground. It has also worked on leisure centres and HS2.
As Construction News has previously reported, stadium jobs have a historical reputation for causing losses for contractors, including Multiplex after it delivered Wembley Stadium and former companies including Ballast and Laing Construction.
Coming soon after Henry Construction Projects went under, the news that Buckingham has ceased trading means that more than £1bn of construction revenue has been lost in recent weeks.
Buckingham, the 30th biggest contractor in the UK according to the CN100 2022, became an employee-owned trust (EOT) in 2021. It is the largest contractor to go through the process of being sold to staff in recent years.
Shareholders who sell to an EOT pay no capital gains tax on the proceeds. Trusts hold shares on behalf of the employees and pay them income tax-free bonuses out of surplus profit.
DRS Bond Management managing director Chris Davies said: “In principle, EOTs and construction are not natural bedfellows. I understand why people do it but unfortunately the whole idea of EOTs is to extract money out of a business from future profit. If the profits aren’t there, you can’t take money out.”
Liverpool FC said it had no comment on the issue yet. Granada Material Handling has been approached for comment. |  |
| My Father had a profound influence on me, he was a lunatic. |
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| St Andrews on 18:50 - Aug 18 with 3056 views | ted_hendrix |
| St Andrews on 16:11 - Aug 18 by hantssi |
That’s pretty unique for a main (principle) contractor.
In years gone by I’ve been into their site offices and actually seen a sign on the wall “screw the subby”! |
*“screw the subby”!*
I can't guarantee anything really but I'm 100% certain that where ever you saw that sign It wasn't on any of our sites, we are members of the Major Contractors Group (NFB MCG).
During the tender stage we would often be asked by clients to provide evidence of regular sub-contractors payments. | |
| My Father had a profound influence on me, he was a lunatic. |
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| St Andrews on 18:57 - Aug 18 with 3045 views | QPRConor2000 |
I would imagine that all the clubs concerned will have contingency plans.
I think legally if a contractor liquidates, then they can transfer the contract to someone else, so that could well happen here. | | | |
| St Andrews on 19:47 - Aug 18 with 2933 views | Lblock |
| St Andrews on 16:11 - Aug 18 by hantssi |
That’s pretty unique for a main (principle) contractor.
In years gone by I’ve been into their site offices and actually seen a sign on the wall “screw the subby”! |
Hence why the industry is a mess
Where are Main Contractors without their subbies and suppliers and vice versa?
I have issues, mainly with getting the whole company on board, and it’s not always an easy task balancing cash flow
I have NEVER agreed with fcuking your supply chain over. Once the Contract is agreed stick by it, both sides.
I’ve worked with my regulars for about 14 years now, some are now friends, we have a mutual understanding of they do good work and prioritise us, we pay them bang on time or ahead and always reasonable with them.
Don’t get me wrong…. I’m at the end of my journey in the bloody industry as it frustrates the hell out of me. Companies going bust and taking good hard working people with them one of the biggest frustrations | |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| St Andrews on 19:59 - Aug 18 with 2909 views | thame_hoops |
| St Andrews on 10:44 - Aug 18 by wombat |
another big construction company goes down the tolet second big one in a month with loads of sub contractors taking the hit as well |
My firm did a lot of work for J Tomlinson in notts who went into administration back in July. Several subcontractors were put out of business overnight because of it. [Post edited 18 Aug 2023 20:00]
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| St Andrews on 20:05 - Aug 18 with 2884 views | hantssi |
| St Andrews on 18:50 - Aug 18 by ted_hendrix |
*“screw the subby”!*
I can't guarantee anything really but I'm 100% certain that where ever you saw that sign It wasn't on any of our sites, we are members of the Major Contractors Group (NFB MCG).
During the tender stage we would often be asked by clients to provide evidence of regular sub-contractors payments. |
Ted, I can’t remember who it was now, it must be 20+ years, it was however a major player at the time.
I’ve always worked for sub contractors (building services) and have found good and bad like in every walk of life.
I had a torrid time with Bovis once, went straight on to another of their projects and had a great relationship with the team there. | | | |
| St Andrews on 20:38 - Aug 18 with 2828 views | hantssi |
| St Andrews on 19:47 - Aug 18 by Lblock |
Hence why the industry is a mess
Where are Main Contractors without their subbies and suppliers and vice versa?
I have issues, mainly with getting the whole company on board, and it’s not always an easy task balancing cash flow
I have NEVER agreed with fcuking your supply chain over. Once the Contract is agreed stick by it, both sides.
I’ve worked with my regulars for about 14 years now, some are now friends, we have a mutual understanding of they do good work and prioritise us, we pay them bang on time or ahead and always reasonable with them.
Don’t get me wrong…. I’m at the end of my journey in the bloody industry as it frustrates the hell out of me. Companies going bust and taking good hard working people with them one of the biggest frustrations |
I’m also nearing the end of my time in the industry (thank goodness) and will admit that we too can be a bit fast and loose with our supply chain with regard to payment when it suits. | | | |
| St Andrews on 21:06 - Aug 18 with 2786 views | thame_hoops |
| St Andrews on 20:05 - Aug 18 by hantssi |
Ted, I can’t remember who it was now, it must be 20+ years, it was however a major player at the time.
I’ve always worked for sub contractors (building services) and have found good and bad like in every walk of life.
I had a torrid time with Bovis once, went straight on to another of their projects and had a great relationship with the team there. |
One of the worst companies I dealt with is MITIE. Their payment terms for sun contractors is 90 days. | | | |
| St Andrews on 22:15 - Aug 18 with 2683 views | Lblock |
| St Andrews on 21:06 - Aug 18 by thame_hoops |
One of the worst companies I dealt with is MITIE. Their payment terms for sun contractors is 90 days. |
It wasn’t when I was there.
The simple approach is agree 28 days or walk away.
The Construction Act mentioned above is there to keep people in line - whenever I’ve used it it’s had the desired effect, on rare occasions it’s been used against me it’s also focused the kind!!! | |
| Cherish and enjoy life.... this ain't no dress rehearsal |
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| St Andrews on 22:36 - Aug 18 with 2636 views | thame_hoops |
| St Andrews on 22:15 - Aug 18 by Lblock |
It wasn’t when I was there.
The simple approach is agree 28 days or walk away.
The Construction Act mentioned above is there to keep people in line - whenever I’ve used it it’s had the desired effect, on rare occasions it’s been used against me it’s also focused the kind!!! |
Hard To walk away when you get a huge volume of work though. But that’s what we did as it was getting ridiculous. | | | |
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