Subcontractors told they will be paid till £100m project is completed despite developer entering administration last week
Work on Birmingham’s £100m project, The Cube, is continuing as normal today after its developer went into administration on Friday.
The administrator, PricwaterhouseCoopers, has confirmed that subcontractors will be paid for February and March and on to the completion of the project.
On Friday it said it would not try to market the development in its current state.
BuildAbility, the contracting arm of developer Birmingham Development Company, was last week forced into administration after being unable to reach an agreement with Lloyds Bank to fund the rest of the project.
The Birmingham Development Company was forced to take on construction of the project itself in 2006 after Taylor Woodrow unexpectedly pulled out of the scheme.
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