McArdles

[RolyD8k]

Originally Posted by d4c24a

i heard things might have come to a head for them this weekend , lets hope its not true

no bother there yet Graham,there owed £7 mill £ 2 of which by London
Westminster council,strapped for cash might be it,but there good for it,
there paid me right up to date,so speak as i find,lot of sour grapes about
and bad rumours flying about which are no good to anyone.

[Pecall]

That's good news then. Being owed £7m tho. I bet that's keeping their financial people on their toes and giving them some sleepless nights. Thanks Roly.

[RolyD8k]

the westminster money is owed from last summer,they say they will be lucky
if they get it next summer,and thats the bloody government it only takes one
hold up in the money chain that fucks it for everyone

[d4c24a]

Originally Posted by RolyD8k

no bother there yet Graham,there owed £7 mill £ 2 of which by London
Westminster council,strapped for cash might be it,but there good for it,
there paid me right up to date,so speak as i find,lot of sour grapes about
and bad rumours flying about which are no good to anyone.

thats good news Roly , i cannot imagine what it must be like to be owed that much money

[Pecall]

Originally Posted by d4c24a

thats good news Roly , i cannot imagine what it must be like to be owed that much money

It's a frightening amount of money to be owed. Don't think I'd want to be in a position that deals with that many zeros.

[Traxcavator.]

It's all well and good being owed that money, the trouble is unless you
can survive until you get paid the money, it means nothing. The major contractors are well known for subbie bashing and this is just the trick they play because after your company has gone bust they then make it so difficult for the receivers to get hold of the money they usually give up or at best only manage to get a fraction of what is owed. Things like breaking of contract and unfinished works coupled with bogus claims against the subbie are all common place. This sort of practice is often the only way they make any money especially after going in at stupid low prices to win the job. I have been on the receiving end of an attempt of this fraud and seen many go down because of it. It still goes on especially in times of recession as we have now. However as Roly rightly says bad talk ans speculation can also do no good for a struggling sub contractor especially if the major company gets wind of difficulties that may or may not excist.

[RolyD8k]

had a call last night from engineer who works for them he claims receivers
went in 4-30 yesterday afternoon, time will tell.

[volbar1]

We had the same problems with the major contractors in the 90's,get paid in 30 days but take a 10% cut on your money,or wait 90 days for payment! Big overdraft with the bank up your arse asking when the next cheque is coming in.Its about time something was done to stop these cheating,thieving Wayne kers!

[Regy53]

And the news is out

Bad news sadly

http://www.constructionenquirer.com/...dministration/

[Seacoaler]

Sad news about mCardle.
As an aside re. subbie payments. When I was working in Scotland for a main contractor often used to get visits from the 'Sheriff' ( real title) who could sequester funds from a subbies payment that were owed by the subbie to someone else down the line. Scottish law being entirely different from English law .