Welcome to our Covid-19 Recovery Hub.
There is light at the end of the tunnel as we move closer towards widespread vaccination and recovery. However, we still face the very real prospect of choppy waters ahead. We have pulled together the key ways we can help you mitigate your construction and property-related risks and manage the threat of programme delays, increased construction costs, financial distress and insolvencies which will, unfortunately be linked to the pandemic.
We expect to be measured on the successful outcomes we help you achieve and have thought carefully about how we can best support you to mitigate risk, make informed decisions and act quickly. Like you, we are hoping for the best and planning for the worst and we appreciate the current challenges are significant:
The safety of employees and site operatives remains paramount.
Working under pandemic-related constraints is likely to continue until the country has reached optimum levels of immunity. Coupled with the threat of a double dip recession, we will continue to see programme delays, disruption and prolongation costs which will lead almost certainly to contractual conflict between Contractors and Employers.
Government support to businesses, particularly the furlough scheme and the moratorium on winding-up petitions, has masked many of the underlying issues facing the sector. But cracks are beginning to show. Government support has succeeded in holding back distressed schemes and will continue to do so for as long as that support continues. But when it stops those cracks will deepen.
Those businesses with the strongest balance sheets could potentially benefit from the pandemic, but there are those who most typically will run out of cash. In the coming months (and possibly years), we expect to see more Employers, Contractors, and supply chains getting into financial difficulties and in some cases resulting in insolvency.
Against this backdrop, we have set up dedicated support services and resources across the key areas of Covid-19 Health and Safety Support, Legal Hub and Project Rescue and Recovery.
Irrespective of the status of your project, RLF Partners will be there throughout to help you mitigate risk.
Thank you and best wishes,
Managing Partner, Robinson Low Francis
T: +44 (0) 20 7566 8400
M: +44 (0) 7766 997 234
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