Ardmore creditors face grim outlook with payouts shrinking amid growing cladding claims
With debts exceeding £500 million, including £91.4 million in cladding claims, the company’s funds are insufficient to fully satisfy creditors.
With debts exceeding £500 million, including £91.4 million in cladding claims, the company’s funds are insufficient to fully satisfy creditors.
The new legislation will also give industry bodies like Homes England powers to remediate buildings if landlords fail to act.
The investigation follows an initial inquiry launched last month on the submission of a merger notice by Kingspan and Coverworld.
Lance Howard, who has served as president of Benson since 2016, has been named CEO of the combined North American business.
Deputy prime minister Angela Rayner has ordered all 18 metre plus buildings with unsafe cladding in a government-funded scheme to be remediated by the end of 2029.
Laing O’Rourke appointed Alucraft Systems, part of The Clarison Group, to provide façade and envelope solutions at the new venue.
It follows the group’s acquisition of Scottish cladding installation and remediation contractor, Group Topek Holdings Limited, in October last year, for £45 million.
Newham Council has become the first local authority in Britain to prosecute a building owner for failing to remove dangerous cladding.
MP forwards bill to set a legally binding code of practice for cladding remediation works in occupied buildings.
Despite challenges, the company remains optimistic, citing a strong land bank, established workforce, and stable rental income for growth.