One in 10 of the contractors named in the OFT's cover pricing investigation has fallen victim to serious financial problems or ceased to trade.

Of the 112 contractors named in April's Statement of Objections (SO), a total of 10 are now in administration or liquidation, after York House Construction called in administrators last month (see list below).

The high proportion of struggling and failed businesses among the group of accused has sparked fears that high levels of fines from the OFT, expected to be announced in the early part of 2009, could send even more companies under.

The OFT has the power to fine a company up to 10% of its relevant turnover if it is found guily of fraudulent bidding practices.



See Original Article

Call now for help with corporate debts.

Call us on: 0800 071 1616

Email us on: info@debtsgone.co.uk

Website: www.debtsgone.co.uk