The high-profile troubleshooter brought in to save the New MillenniumExperience Company spoke out in the Times today following revelations last week that millions ofpounds of unpaid bills threatened the future of contractors and suppliers.
Growing financial chaos at the Dome involving at least £2m owed to just twocompanies emerged last week despite a huge £32m injection by Government to stemmounting cashflow problems.
Gerbeau’s promises to pay creditors on time contradict earlier Dome assertionsthat there was no problems with unpaid bills.
‘I am not happy at all about the situation and the way our finances were and arehandled,’ admitted Gerbeau.
‘There is a backlog of invoices and that is notacceptable.’
He said his priority when he was brought into take charge at the Dome was toaddress the visitor experience.
‘However, we not out of the woods in dealing with our financial problems,’ headded.
A Times investigation last week uncovered more than 20 companies still owedmoney by NMEC for work carried out last year – and at least three firmsinitiating legal proceedings against the Dome.
Now Gerbeau says he will ensure that small suppliers would be given ‘priority’status.
‘My background is of a small family business and I know how important it is tobe paid on time’, he said. ‘However, we will only pay money which is owed and wehave independent surveyors checking the work.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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