23 August 2010 | By Carl Brown
An arm’s-length management organisation has cancelled a £7 million repairs contract with struggling contractor Connaught.
Barnet Homes, which manages Barnet council’s 15,000 homes, will end the contract next February.
A Barnet Homes spokesperson said: ‘We would like to assure residents that we are implementing transition plans as a matter of urgency, and we are seeking to minimise any disruption to our repairs service.
‘We will provide further updates on our website.’
Connaught, which earlier this year issued two profit warnings and was forced to take out a £15 million emergency loan, is continuing talks with lenders as it attempts to avoid collapse.
Note: Connaught is Homes For Islingtons (HFI) preferred option for a long term maintenance for Islingtons social Housing!