Dunno but I suspect inflation is doing woeful damage for those lads. Fixed price contracts that are executed 2 years after tender. Good luck.
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Price variation clauses in most contracts. Public Works Contracts all have inflation allowances including an index allowing for inflation from time of tender to commencement on site.
Parent company looks to have pulled the plug here.
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Inflation in wages energy and fuel would have gone through the roof since the contracts were signed Iâd imagine and thin margin on contract in first place.
Thats not worth a shite tho. And any inflation during the contract is only applicable after 15% inflation. No one would price in inflation in a competitive tender, so the only thing it does is somewhat lever a gap if there is a delay to start with the index amount.
You can be sure the owner/owners will be alright.The poor auld subbie and his workers will get fucked good and proper.
Dolcain Engineering went into liquidation last year. They were part of SIAC.
I presume they separated all their businesses. Dolcain didnt win a tender, a proposed financial backer pulled out and they were gone.
Think another company in the group to go next week as well.
Public Works Contracts have an inflation co-operatiion framework which works to a monthly index otherwise they wouldnât have gotten anyone to sign a Letter of Acceptance to a fixed price for 450 days in the current climate.
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Had a feeling they were in bother. Fuck
Who was main Subbie there?
Wouldnât know to be honest
I missed this news. The young lad will be gutted. My wallet will be a bit heavier (he hopes).
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Does this mean that Chapters is fucked too?!
Game Stop owns that I think.
What a cracking book shop that is.
He said the directors âwere delighted to welcome 1,068 new shareholders to the companyâ. He noted this includes six new shareholders who invested between âŹ50,000 and âŹ250,000, while the majority of them, 734, are small investors who acquired shares to the value of up to âŹ1,000.
Mr Murphy also said âthe majority of the new shareholders are femaleâ.
Bizarre
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Charlatans. Theyâve gone very quiet?
Like the good people of DĂșn Laoghaire Rathdown âinvesting inâ Big Mikeâs in Blackrock. Theyâre prepaying for steaks though vs. here where theyâre buying plants.