Industry sources said the \u00a360m turnover firm has written to subcontractors and staff warning it is fighting for survival while talks continue with possible investors.<\/p>\n
Hundreds of subbies were told to stay at home this week after many failed to be paid last Friday. The cash-strapped contractor has been struggling to meet supplier payments for several weeks.<\/p>\n
Tensions have been running high. Just over a week ago, diggers were torched at a site near Liverpool in an incident thought to be linked to payment disputes. It is also understood police were called yesterday to a Caldwell director\u2019s home to disperse suppliers seeking payment.<\/p>\n
Caldwell was approached for comment but calls were unanswered.<\/p>\n
Founded in 2007, the business built a strong regional presence delivering groundworks for house builders and developers across the Midlands, North West and Yorkshire.<\/p>\n
Sources said Caldwell has been active on several sites for Vistry Group, where payment delays are understood to have exacerbated cashflow pressures.<\/p>\n
Vistry confirmed Caldwell operatives had been pulled off its sites and said it is now moving to line up replacements.<\/p>\n
A Vistry spokesperson said: \u201cWe have been in consultation with Caldwell Construction and it is unfortunate that this action has been taken. <\/p>\n
\u201cTo ensure there are no delays to construction programmes, we are in discussion with alternative subcontractors from our preferred supplier listings to continue the works.\u201d<\/p>\n
Caldwell employs around 50 staff from its Stoke head office and a North West base in Warrington.<\/p>\n<\/p><\/div>\n
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