{"id":33136,"date":"2025-11-07T23:16:24","date_gmt":"2025-11-08T07:16:24","guid":{"rendered":"https:\/\/essential.construction\/news\/vidi-construction-went-down-owing-6m-to-subbies\/"},"modified":"2025-11-07T23:16:24","modified_gmt":"2025-11-08T07:16:24","slug":"vidi-construction-went-down-owing-6m-to-subbies","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/vidi-construction-went-down-owing-6m-to-subbies\/","title":{"rendered":"Vidi Construction went down owing \u00a36m to subbies"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-503167\">\n\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>An update from administrator Horsfields reveals 227 trade creditors were left holding unpaid bills which are now worthless.<\/p>\n<p>Vidi also owed \u00a3300,000 to its 32 employees and \u00a3235,000 to the tax man.<\/p>\n<p>The company was working on five live residential sites across London and the South East at the time of its demise.<\/p>\n<p>Draft management accounts show Vidi had a turnover of \u00a379m for the year to September 30 2024 genereating a pre-tax profit of \u00a31.9m.<\/p>\n<p>The firm had been trading since 2016 but its main client went into administration in 2024 which had a \u201cdevastating impact on trading performance.\u201d<\/p>\n<p>Over half of the company\u2019s ongoing projects were suspended immediately leading to critical cash flow failure.<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n<div class=\"author-info\">\n<div class=\"sleeve\">\n<div class=\"author-avatar\">\n<div class=\"sleeve\">\n\t\t<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.constructionenquirer.com\/wp-content\/uploads\/userphoto\/3.jpg\" alt=\"Grant Prior\" width=\"150\" height=\"150\" class=\"photo\">\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><!-- .author-info -->\t\t\t<\/footer>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.constructionenquirer.com\/2025\/11\/07\/vidi-construction-went-down-owing-6m-to-subbies\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] An update from administrator Horsfields reveals 227 trade creditors were left holding unpaid bills which are now worthless. Vidi &#8230; <a title=\"Vidi Construction went down owing \u00a36m to subbies\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/vidi-construction-went-down-owing-6m-to-subbies\/\" aria-label=\"Read more about Vidi Construction went down owing \u00a36m to subbies\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[],"class_list":["post-33136","post","type-post","status-publish","format-standard","hentry","category-construction-enquirer","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/33136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=33136"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/33136\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=33136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=33136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=33136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}