Pressure is mounting on Britain’s largest privately owned construction company as its banking partners delay signing off on a crucial refinancing.
Laing O’Rourke, the contractor behind projects ranging from the London 2012 Olympics site to the Scottish parliament, is more than two months late filing its UK accounts amid increased scrutiny from lenders and accountants.
Stewart McIntyre, finance director of Laing O’Rourke, said that there had been “more inspection by funders into our business plans, types of contract, geographic risk, sector risk and client risk to make sure our plans are robust”.
Elsewhere, the Telegraph looks at the current ‘construction crunch’ and asks if the industry is going to see another Carillion.
