In our second major analysis of industry payment-practice reports,
Megan Kelly delves into the government data to identify the best and worst payers in the sector. We also look beyond the headline figures to uncover the often complex reasons why some companies appear able to settle their debts more swiftly than others
Slow payment has long plagued construction. It comes as no surprise to learn that, in 2020, amid a global pandemic, a national shutdown, and with many companies struggling for cash, poor payment practices have again come to the fore.
According to
Construction News’s latest analysis of government payment data, most of which was collected after the first lockdown was enforced in March 2020, many must still wait well beyond 30 days to receive payment. Adding to cashflow challenges, nearly a third of all payments breached agreed terms, typically meaning a commitment to pay by some other deadline beyond 30 days was also missed.
Winvic Construction has been appointed by two clients for concurrent works at Edgbaston stadium in Birmingham.
The firm will be delivering improvement works for Warwickshire County Cricket Club (WCCC) ahead of the 2022 Commonwealth Games and also constructing a mixed-use scheme for PATRIZIA (UK), which comprises 375 build-to-rent apartments to be built on land next to the stadium.
Initial activity for WCCC on the western side of Edgbaston stadium will include ground works as well as the demolition a derelict building.
This is in preparation for the reconfiguration of the existing car park and creation of new parking areas, resulting in a further 229 spaces than the current provision.