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The latest construction industry news that matters most to SME business leaders.

Interserve MD: 42-day payment change driven by rivals

Interserve MD: 42-day payment change driven by rivalsSubscription

Interserve Construction managing director Gordon Kew said the firm extended its payment terms last year because its competitors had done the same.

Carillion used invoice factoring to hide £500m debt

Carillion used invoice factoring to hide £500m debtSubscription

Carillion used its invoice factoring early payment facility (EPF) to “hide the true extent of its massive debt”, according to the Carillion joint inquiry.

Jeremy Corbyn: 30-day pay terms should be law

Corbyn: 30-day pay terms should be lawSubscription

Labour leader Jeremy Corbyn has told Construction News he wants invoice payment within 30 days to be enshrined in law.

Probe launched into Tarmac’s acquisition of Alun Griffiths

Probe launched into Tarmac’s acquisition of Alun GriffithsSubscription

Tarmac’s purchase of Welsh contractor Alun Griffiths is being investigated by the competitions watchdog.

Skanska UK to sell Cementation piling business

Skanska UK to sell Cementation piling businessSubscription

Skanska UK has revealed plans to sell its piling and foundations business Cementation Skanska.

Administration

Lagan Construction collapsed owing firms £21m Subscription

Collapsed contractor Lagan Construction Group owed firms more than £21m when it entered administration in March, CN can reveal.

Renew buys rail contractor QTS for £80m

Renew buys rail contractor QTS for £80mSubscription

Engineering services group Renew Holdings has acquired Scottish railway contractor QTS in a deal worth £80m.

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Late payment 'harming mental health of SMEs'Subscription

Half of SME construction business owners hit by late payment problems have suffered mental health issues as a result, according to a survey by The Prompt Payment Directory.

Interserve results: UK construction arm to shrink_Debbie White

Interserve results: UK construction arm to shrinkSubscription

Interserve chief executive Debbie White has said she expects the company’s construction business to shrink as opportunities in its traditional markets dwindle.

Carillion van worker 1

Banks sitting on millions in Carillion SME supportSubscription

Exclusive: Banks have reported “low activity” in the number of Carillion suppliers seeking financial help following the contractor’s collapse, with one bank seeing just 18 firms using specially allocated support.