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| major losses; losses | |
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| Tweet Topic Started: Jul 28 2008, 08:03 PM (173 Views) | |
| timw | Jul 28 2008, 08:03 PM Post #1 |
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Newbie
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I hear talk that builders small and medium are going bust on us left and right ?? anyone else concerned |
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| shorty | Jul 28 2008, 08:36 PM Post #2 |
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Newbie
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I know of three major Hampshire based plumbing installation companies who have laid off up to 50% of their installers in the last three weeks. The main problem seems to be new build site that have been programmed for months suddenly stopping with virtually no notice. In some instances show homes have been completed and the site them 'mothballed' until conditions improve. The major consolidations within the development sector has resulted in three or four large players swallowing up profitable smaller developers using borrowed money, which has left the exposed to the banks for £billions. The smaller (usually more profitable) developers are the engine which drives the new housing sector, not nessessarily the Barratt's and Persmmons of this world. Linden Homes were swallowed up by Galliford Try (Tri build) who generated most of their profits building social housing. The merchant industry is exposed more by developers trying to build their way out of the mess they created that they will be by developers reducing the numbers they build. Imagine if every local Barratt office completed 100 units and then went bust. The largest branch in every region could be exposed for up to £300K.. Scary stuff.......... |
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