article thumbnail

Metnor supply chain debts hit £10m

Construction Enquirer

Metnor worked across the UK as a main contractor in sectors including residential, healthcare, student accommodation, hotel, leisure and commercial. Latest results for the company show it made a profit of £1.3m during the year to December 31 2021 from a turnover of £62.6m while shareholder funds stood at £4.6m.

Debt 84
article thumbnail

Renters Cite Affordability as the Main Obstacle to Homeownership

Pro Builder

Renters Cite Affordability as the Main Obstacle to Homeownership. renters cited a lack of local housing affordability as their main reason for renting instead of becoming homeowners, and 30% were also unable to save for a down payment, according to a recent Redfin survey. Thu, 04/07/2022 - 09:54. Nearly one third of all U.S.

Maine 52
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Elements Europe wins Digbeth 550 rental flats

Construction Enquirer

Offsite modular specialist Elements Europe has been confirmed as the main delivery partner a central Birmingham 550-flats build-to-rent scheme. Acting as both the main contractor and offsite manufacturer, Elements Europe will deliver a full turnkey package for the Digbeth scheme known as Smith’s Garden.

Debt 64
article thumbnail

Subbies left unpaid by developer Empire Property Concepts

Construction Enquirer

An update from administrator Opus Restructuring Llp has revealed the scale of debts left by the failure of the firm in April. Empire Property Concepts Ltd changed its name to MCIOD Limited days before Metro Bank called in the administrators.

Banking 100
article thumbnail

Tiny Home Living is Thriving, But With Drawbacks

Pro Builder

No debt or financial burdens, endless travel, and little limitations are the big reasons why many turn toward tiny home living, but the pandemic has put a pause on many of those benefits. Fifty six percent of Americans said they would live in a tiny home, according to a survey conducted in late 2020 by the Tiny Home Industry Association.

Debt 103
article thumbnail

The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

Existing debt covenant calculations may need to be amended as a result of the implementation of the new lease standard. Main Image. Consider the benefits of practical expedients. The next steps will involve discussing the impact to your company’s financial statement with your bankers, sureties, and other lenders. Accounting & Finance.

Leases 177
article thumbnail

The Number One Thing You Need To Know About Your Construction Business

Contractor Bookkeeping

At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management is one of the main reasons businesses fail. That's why you need to understand cash flow.