Barnet Council axes Connaught contracts
Published: 23 August, 2010
LONDON/EXETER: The London council of Barnet has ended its £17m-a-year contract with social housing group Connaught to maintain its 15 000 local authority homes. The loss comes as national merchant Travis Perkins revealed it is owed money by the group.
Barnet Council is terminating the contract 13 months early because it fears that Connaught will not be able to perform its duties properly.
Concerns about Connaught have been building in the last two months. The company has issued three profits warnings and its executive and finance director have both resigned.