29 March 2023
Squibb Group Limited
(“Squibb Group” or “the Company”)
Press Announcement
Squibb Group announces that following the publication of a Press Notice by the Competition and Markets Authority (the “CMA”) on 23 March 2023 and, after consultation with its lawyers and its other advisers, the Company will be initiating an appeal against the CMA’s decision.
The focus of the appeal will, for the most part, concentrate on the background to and determination of the fine. In particular, the fact that the fine is disproportionate when seen in the context of the wider investigation and the other infringements discovered as part of the CMA investigation.
The appeal process is expected to take in excess of 12 months and further announcements will be made by the Company as required.
Contact:
Squibb Group Limited
Leslie Squibb | Managing Director 0208 594 7143
23 March 2023
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 found that ten firms illegally colluded to rig bids for demolition and asbestos removal contracts.
It is disappointing that after four years of investigation, which included reviewing over 10,000 Company tenders and extensive representations by the Company, where we fully cooperated with the CMA (including a root and branch review of our historical compliance practices) that it has been determined that Squibb Group Limited has committed two acts of simple cover pricing. In relation to the allegations of cover pricing it is also our understanding that the clients were not disadvantaged, and these two instances are considered to be at the low end of the scale of seriousness in terms of overall economic effect. Furthermore, we believe that the proposed fine (which is significantly influenced by a company’s turnover) is disproportionate when seen in the context of the wider investigation and the other infringements discovered as part of the CMA investigation.
Squibb Group Limited is now in discussions with its lawyers and other advisers as to its next course of action which could include an appeal to the Competition Appeal Tribunal.
A further announcement will be made in due course.
Contact:
Squibb Group Limited
Leslie Squibb | Managing Director 0208 594 7143
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
CMA Case Timetable November Update: Ongoing consideration of representations (next update March 2023)
