Falmouth: Council monitoring projects which could be affected if Midas goes into administration
By Joseph Macey
3rd Feb 2022 | Local News
Cornwall Council says it is working to ensure that construction projects with Midas can continue to be delivered should the firm go into administration.
The council has a number of contracts with Midas for schemes which include homes, schools, and workspace projects.
Midas, based in Exeter, has filed a notice of intention to go into administration putting the future of the firm into doubt.
Among the contracts that Midas has with Cornwall Council and its wholly owned development company Treveth are hundreds of new homes.
The company has also been appointed as construction partner with a £5million contract to build the Penzance Creative Hub where work started in October last year.
Midas has also been behind a £6.3m STEM and Health Skills Centre in Bodmin for Truro and Penwith College. This is due to be completed this spring.
The company has also recently completed a new extension for Threemilestone Community Centre which was formally opened at the weekend.
On the Midas website its news centre lists some of the other projects that it is currently involved in in Cornwall.
These include a major extension at Redruth School, 140 new homes in Quintrell Downs, 100 homes in Bodmin and a major 600-home development at Maudlin Farm, Liskeard.
Cornwall Council's contract register shows that Midas has been appointed to deliver school maintenance works in west and east Cornwall worth £8m. That two-year contract is due to end in March.
The Local Democracy Reporting Service asked Cornwall Council to provide details of all the contracts it has with Midas but did not get any details.
In a statement the council said: "The council was made aware on Friday January 28 that Midas Group was filing notice for administration. The council has a number of projects with Midas Group across education, housing and work-space.
"The council has contracts in place for the delivery of these projects and will work with Midas through the formal administration process triggered on Friday. At this stage the council has been preparing and continues to contingency plan across all Midas contracts to support the successful delivery of these projects into the future."
Midas is one of the region's largest employers, with more than 400 people directly employed and supporting more than 10,000 jobs in supply chains. It has offices across several parts of the West Country, including one in Indian Queens.
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