{"id":611,"date":"2018-11-20T07:43:24","date_gmt":"2018-11-20T07:43:24","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=611"},"modified":"2018-11-20T07:43:24","modified_gmt":"2018-11-20T07:43:24","slug":"forrest-facing-d-day-over-companys-future","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/forrest-facing-d-day-over-companys-future\/","title":{"rendered":"Forrest facing D-Day over company\u2019s future"},"content":{"rendered":"

Staff at stricken contractor Forrest are expecting a decision on the company’s future on Wednesday.<\/p>\n

The Enquirer<\/em> understands that hundreds of staff were called-in to the Bolton head office yesterday for an update on re-financing talks.<\/p>\n

Forrest has stopped work on sites while it works with restructuring specialist FRP Advisory and potential lenders.<\/p>\n

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It is understood that staff have been told that it is unsure whether their November wages will be honoured.<\/p>\n

One subcontractor said: “I’ve been through this so many times I know the drill off by heart.<\/p>\n

“Whatever happens it always ends up with me losing out along with the rest of the supply chain.”<\/p>\n

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Forrest has run into problems on a series of jobs due to time and cost overruns and low initial bidding.<\/p>\n

Forrest agreed its last financial restructuring in March 2017 after racking-up pre-tax losses of nearly \u00a326m in two years.<\/p>\n

Last filed accounts for holding company Ensco 996 for the year to March 2017 show the firm has a turnover of \u00a382m and employed 443 people.<\/p>\n

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from Construction Enquirer https:\/\/ift.tt\/2FyaaG4<\/p>\n","protected":false},"excerpt":{"rendered":"

Staff at stricken contractor Forrest are expecting a decision on the company’s future on Wednesday. The Enquirer understands that hundreds of staff were called-in to the Bolton head office yesterday for an update on re-financing talks. Forrest has stopped work on sites while it works with restructuring specialist FRP Advisory and potential lenders. It is […]<\/p>\n","protected":false},"author":1,"featured_media":147,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=611"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/611\/revisions"}],"predecessor-version":[{"id":612,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/611\/revisions\/612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/145"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}