CMA Press Announcement

24 June 2022

 

Squibb Group Limited

(“Squibb Group” or “the Company”)

Press Announcement

 

Earlier today the Competition and Markets Authority (the “CMA”) has, after investigating suspected historical anti-competitive behaviour in the provision of demolition and related services between January 2013 and June 2018, announced that it has provisionally found that ten firms illegally colluded to rig bids for demolition and asbestos removal contracts.

Eight of the ten firms have admitted their involvement in at least one instance of bid rigging.

Squibb Group Limited has not admitted its involvement and the CMA notes in its announcement that it should not be assumed that Squibb Group Limited has broken the law.

Squibb Group Limited will continue to engage with the CMA regarding its assessment of the facts relating to Squibb and the market for demolition services. In accordance with the process, the CMA is required to consider Squibb’s representations before finalising its decision. We have a high degree of confidence that the CMA will take Squibb Group Limited’s submissions/concerns seriously.

Further updates are expected later in 2022.

Contact:

Squibb Group Limited

Leslie Squibb | Managing Director                          0208 594 7143