The collapse of fit-out firm Paragon Interiors has left freelance site managers with personal loses as high as £80,000, Construction News has learned.
Interserve newco to inherit contract liabilitiesSubscription
Almost all previous liabilities held by Interserve have been carried over to the new business despite the firm falling into administration, the contractor’s general counsel has told Construction News.
Dawnus: Work restarts on stalled Swansea schemeSubscription
Swansea Council staff have replaced Dawnus workers on the troubled Kingsway dual carriageway scheme in the city centre.
Interserve’s refinancing is a “positive outcome” for customers, the supply chain and employees, a Cabinet Office minister has said.
Subcontractors and trade creditors to Interserve have been reassured that outstanding debts to the business will be honoured despite the parent company being placed in administration.