Merchants feel the pain of connaught

[Puddle]

While the dust settles on the con-naught collapse,merchants count there losses

Plumbing Trade Supplies (PTS) down 6.3m,nice take over surprise for Travis Perkins,which themselves seem to have waved good bye to 1.7m and Jewsons come in with 2.2m

In all trade creditors are out some 57m

Connaught owes £57m to suppliers, according to | Mail Online

 

[Billy Bob Bob]

is it true BG have bought con-naught someone was saying in the merchants the other day

 

[Puddle]

BG bought the boiler and heating cover plan section for around 11m which con-nought had apparently ,20.000 customer base and took the staff as well,just part of the assets,as it fits in well with there set up

UPDATE 1-Centrica's British Gas buys Connaught assets - Finance News - London South East

 

[ecowarm]

is it true BG have bought con-naught someone was saying in the merchants the other day

Seems so FT.com / Companies / Construction - Centrica buys Connaught compliance business
Eco

 

[ecowarm]

You beat me Puddle

 

[tamz]

They have taken over the commercial side. That part was owned by BG before.

 

[villa_tom]

I was made redundant by connaught last month, the way it ended up was a joke. They owe loads to loads of people. I've got the creditors report here which I got sent by the administator, its not so much the big firms they owed money to that i feel sorry for its all the subbies and one man bands they used some of those poor blokes are owed tens of thousands for works they have done. some of them are owed hundreds of thousands - connaught will probably send loads of smaller firms down with them.

The way they bid for contracts was a joke - our contract was 12000 properties with five blokes doing the service and breakdown and the area was massive - plus they only got £112 per property per year to service and maintain. plus loads of the boilers where suprimas so if the PCB went it'd cost more to repair than the money they got for looking after the property. God only knows what the other contracts where like. yet it again its blokes in suits making decisions that they know nothing about which affect the blokes in the vans doing the work and saying certain work can be undertaken in a given amount of time when they aint got a clue how the trade works.