With fans from across Europe driving on Poland’s newly completed highways or flying in to refurbished airports to take their seats at freshly built stadiums, this should be a time of joy for the country’s construction companies.

Instead, there is widespread gloom across the sector as companies deal with the after-effects of loss-making contracts for road and stadium construction that has driven some firms into bankruptcy and could have knock-on effects for the wider economy. Continue reading »

Poland’s ambitious highway construction programme was supposed to provide lucrative bounty for local road construction companies; instead it has turned into a disaster, as yet another contractor declared bankruptcy on Monday due to problems resulting from its road work.

PBG, Poland’s third largest construction company, and two of its subsidiaries announced that they were taking the step because of liquidity problems stemming from their road construction contracts, delays in getting paid for work on Warsaw’s new National Stadium, and problems negotiating with banks on new financing. Continue reading »