Construction companies fined £60m for rigging demolition bids

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Ten construction firms have been fined almost £60 million after the competition regulator found that they had colluded to rip off customers by rigging bids for a number of demolition contracts.

The Competition and Markets Authority said that, through "illegal cartel agreements", the contractors agreed to submit bids for various contracts which had been priced to lose the tender.

The practice, known as "cover bidding", meant that customers were deceived into thinking that the winning bids were competitive, "when that was not the case". As a result, customers might have paid more than they should have or received an inferior service.

In total, the rigging conduct related to 19 contracts for demolition and asbestos removal worth more than £150 million. This included works carried out