Griffiths: Financial review 'worrying' for construction workers
Established in 1968 by Alun Griffiths, the company is one of the best-known civil engineering and rail contractors in Wales and the west of England.The business was sold to the Tarmac group in 2018 but continues to trade under the Griffiths brand. The latest available accounts from 2022 showed it employed around 900 people.A spokesperson for Griffiths said: "We have carried out a comprehensive strategic review of the business in response to recent challenges faced by Griffiths, including market conditions and financial performance."Following this review, a consultation process has begun with employees. This will work through proposed changes with our employees and hear their feedback before any final decisions are made."We're committed to continuing to deliver for our customers and suppliers in line with our contractual obligations."
Current projects include the final dualling of the A465 Heads of the Valleys road in south Wales and a joint venture to develop Bristol Airport's new £60m transport hub.But it has walked away from other deals, including a commitment to build a £90m bypass in Banwell in Somerset.Companies House shows that the latest accounts for Griffiths, which trades as Alun Griffiths (Contractors) Ltd, were due to be filed by 31 December 2024.The overdue accounts are for 2023.Previously filed accounts show the company recorded losses of £20m in 2022, £38.1m in 2021, £11.6m in 2020 and £4.8m in 2019.In a statement, the Welsh government said: "This is clearly worrying news for the employees of Alun Griffiths Contractors, their families and local communities."We will continue to work with Alun Griffiths Contractors during this consultation process."
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