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Fears for Weldon's future
One of the county's best-known construction companies, responsible for a string of high-profile building projects, is feared to be facing financial difficulties.
Weldon Plant, which employs 113 workers and numerous subcontractors from Northamptonshire, is believed to have entered talks with bankers regarding its future.
Workers stopped construction work at three schemes involving Weldon, including the Rockingham Triangle stadium in Corby.
The firm's situation is believed by Corby Council to have been caused by changes its bank has made to its credit lines, despite an apparently healthy order book.
Recent completed schemes Weldon has been involved in include Kettering Market Place, The Grange in Desborough, Rushden Wildlife Rescue site, Kislingbury Bridge strengthening, a major college-building scheme in Northampton and core drilling works for Corus.
The firm's workers were called off site at the Lincoln Way housing project, the Rockingham Triangle stadium and street works at Oakley Vale in Corby this week, and officers at Corby Council spent yesterday considering how best to help the company and its various subcontractors.
The firm operates from its base in Pywell Road on the Willowbrook Industrial Estate, Corby.
Chief executive of Corby Council Chris Mallender said: "This is a dreadfully worrying time for Weldon Plant, its employees and its many subcontractors.
"We believe it is an inherently strong business that was recovering well from recession but is now jeopardised by what appears to be irresponsible bank lending practices from a publicly-owned bank.
"This is not the first time a business with significant public work contracts appears to have been forced to the brink of closure.
"We saw the same thing happen with Thorpe Kilworth earlier this year."
Mr Mallender added: "We do hope that Weldon Plant is able to recover
from this situation."
Prudent running of the council's contracts means the public purse should not be affected, although Weldon Plant workers have been removed from Lincoln Way, the Triangle and Oakley Vale.
Deputy leader of Corby Council Mark Pengelly said: "We are looking closely at what is happening and we will do everything we can to protect subcontractors who are working on council projects.
"We don't want to see Weldon Plant in trouble and we want to do what we can as an authority to help secure the jobs of its 113 workers."
The firm was founded in 1980 in the aftermath of the closure of Corby Steelworks and has worked on dozens of major building projects in the East Midlands.
Other recently completed major projects include Max Park in Corby, the Peugeot factory redevelopment in Coventry and the 22m chemical plant decommissioning in Raynesway, Derby.
Despite repeated attempts by the Evening Telegraph to contact Weldon, no-one was available to comment.
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Thursday 09 February 2012
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