Vidi Construction went down owing £6m to subbies

An replace from administrator Horsfields reveals 227 commerce collectors have been left holding unpaid payments which are actually nugatory.

Vidi additionally owed £300,000 to its 32 staff and £235,000 to the tax man.

The corporate was engaged on 5 dwell residential websites throughout London and the South East on the time of its demise.

Draft administration accounts present Vidi had a turnover of £79m for the yr to September 30 2024 genereating a pre-tax revenue of £1.9m.

The agency had been buying and selling since 2016 however its primary consumer went into administration in 2024 which had a “devastating influence on buying and selling efficiency.”

Over half of the corporate’s ongoing initiatives have been suspended instantly resulting in essential money stream failure.