Two residential projects that are due to deliver around 220 homes in Dublin have been shut down in the last week after the main contractor ceased paying creditors over recent months.
Shapoorji Pallonji, the Indian construction conglomerate, is understood to have defaulted on a number of payments to sub-contractors in the last two months and the company now owes up to €2 million to a range of trade creditors. A number of sources, who spoke to the Business Post on condition of anonymity, said the company’s Irish operation had ceased paying sub-contractors and that a number of creditors “risked being burned” by Shapoorji if it exited the Irish market. One sub-contractor alone is owed more than €250,000 by the company.
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