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Keep up to dateBy Louise Garcia 2024-01-17T07:00:00
Louise Garcia sets out the considerations, options and precautions a client can take if a main contractor’s finances look wobbly
You are partway through your shiny new hotel/restaurant/leisure project, and your main contractor looks like it might be in financial difficulties: work is not progressing to programme, despite weekly project meeting promises; supplies are not being delivered to site (or, worse still, are disappearing from site), and there seems to be a general lack of subcontractor activity. Rumours abound that your main contractor is in trouble. Trouble is contagious.
If your contractor is in financial difficulty, consider your position:
Taking early steps to assess the risks and take action now can limit the damage later.
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