Midas Construction

[whole diary]

[REVUpminster]

Surprised no one has mentioned Midas applying for administration as they are one of the biggest firms in the South West although not into railway work. They are the main builders of Torbay. Just completed the first stage of a business  park in Paignton but work has stopped on two hotels (one almost completed), a school refurbishment, homes in Paignton and a hotel half completed in Torquay.

They made a loss of £2m last year, first in 40 years, which was not much with their turnover but expected to make a much bigger loss this year due to spiralling costs of labour and materials.

On a railway note; one of the delays to Crossrail was Tottenham Hotspur offering electricians more money to finish the new White Hart Lane stadium.

[CyclingSid]

I thought everything Midas touched turned to gold, or is that only in ancient Greece?

[REVUpminster]

Midas has gone. The Fragrance Group who own the two Paignton hotels have already appointed another contractor to complete the works. Looks like they will be using a lot of the existing workers who are familiar with the job.

[REVUpminster]

All the Torbay Midas projects have been picked up by other contractors. The three hotels, two have already restarted, school, and a small block of flats.

Other non Midas projects such as Stoodley Knowle are under construction as are two other hotels at groundwork stages.

Over £200m in construction projects.