Dive summary:
- Keene, N.H.-based Baybutt Construction Co. faces problems as two government clients have declared the firm in default on projects in Massachusetts and Vermont and reports say subcontractors complain of not being paid.
- Officials in Nantucket, Mass., voted last month to go to Baybutt's surety company over delays in a facility at the island's airport, and Vermont said this month that it was hloding Baybutt in default on renovations to a state office building in Brattleboro.
- Bob Rea, director of facilities operations for the state of Vermont, eastern region, said he suspects that Baybutt took on too many projects with too little profit margin in a bid to overcome the fiscal downturn's effect.
From the article:
In a statement, Des Moines-based Merchants Bonding says it is working with Baybutt and its clients, including "investigating claims of subcontractors, suppliers, and, where appropriate, arranging for completion of the bonded projects." ...
