The insolvency of UK construction company Buckingham Group, which was announced on 17th August 2023, puts at risk parts of the HS2 high-speed rail (HSR) project. Buckingham Group, which had revenues of around €780 million (GB£665 million) in 2021, is unable to continue trading due to increasing contract losses and falling liquidity. The board has filed a letter of intent to appoint administrators to protect the company and explore a sale. Projects affected include the construction of a 4 km HS2 track and 3.5 km of the East West Rail line in Calvert North, as well as construction work on the East West Rail 2 project. Buckingham Group has also been involved in numerous construction projects of bridges, trunk roads, shopping centres and sports stadiums. The impact of the insolvency on ongoing construction projects is currently unclear.
