What To Do When Someone Goes Bankrupt On A Construction Jobsite
One look at the morning paper (or your favorite news app, more likely) will reveal a sad truth in business today. The coronavirus is causing companies to go bankrupt, disrupting...
Coronavirus
The coronavirus has thrown a wrench into the global and US economies. What does the coronavirus mean for construction businesses – and what can you do now to prepare?
Here, you’ll find articles about coronavirus with helpful information for contractors, material suppliers, and others in the construction industry do to cope with current and future effects of COVID-19. These posts provide actionable insights to help construction businesses address the mounting fear of missed or delayed payments, cancelled jobs, and potential economic recession.
View all of our resources & help:
Coronavirus Resources for the Construction Industry
The construction industry is not immune to coronavirus. Material suppliers from Asia and around the world are being delayed. Sick workers are being quarantined. And cities have even begun shutting down building projects.
While the ultimate impact is yet unknown, construction companies can take specific actions now to protect their payments – and their business. If you need help with coronavirus in the construction industry, feel free to ask a question on the Expert Center for free to receive advice from a construction attorney.
County Office Closures: Lien & Notice Filing
Many county offices, including recorders and clerks, have shut down in-person services due to coronavirus. While remote recording options are available, it’s important that contractors and suppliers keep a close eye on their mechanics lien, bond claim, and other filing deadlines.
For latest information, contact your county office directly.
View contact & filing information for any US county recorder / clerk.
Most Recent Posts on Coronavirus
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Construction Finance: SBA Relaxes PPP Loan Requirements
There’s good news for contractors looking to take advantage of the SBA’s Paycheck Protection Program (PPP): Forgiveness is easier. And contrary to popular rumor, the fund is alive and well....
Construction Compliance & Safety During COVID-19
Many states are finally giving contractors the green light to go back to work. However, the jobsite during COVID-19 looks significantly different from the ones we last saw, just a...
Facing Bankruptcy, Movie Theater Chains Owe Millions to Contractors
Movie theater giant AMC Theaters is currently facing over $1.75 million in mechanics lien claims. This comes after the company reported a quarterly loss of $2.17 billion amid the coronavirus...
Keeping Construction Cash Flow Positive During & After COVID-19
Editor’s note: Poor construction cash flow can lead to the downfall of construction business during any economy, good or bad. As the risk of bankruptcy increases in the age of...
Florida Contractor Places $7.7M Lien on Ritz-Carlton South Beach
In April 2020, a Florida restoration and renovation contractor filed a $7.7 million lien on the Ritz-Carlton South Beach Hotel and Resort, seeking payment for work on the massive, multi-year...
May 24: Construction Payment Index Reaches 94% of Pre-COVID Levels
Even as states continue to relax stay-at-home orders, COVID-19 continues to impact construction around the country. Levelset’s Construction Payment Index identifies industry trends both nationally and state-by-state. During the week...
How to protect your construction company during a rebounding economy
Overall, a rebounding economy is great news. However, if construction businesses aren’t careful, they may face more financial risk in a rebounding market than during an economic downturn. While the...
May 18: Construction Payment Index Shows Signs Of Industry Recovery
According to new data analysis from Levelset’s Construction Payment Index, the construction industry is starting to show signs of recovery from the impact of coronavirus. While some states are still...
Crisis Mode: Coronavirus Drives Surge in Construction Payment Disputes
The coronavirus has been a cause for significant concern for construction businesses. Everyone from GCs to material suppliers is watching their cash closely. If construction businesses were reluctant to protect...