Ardmore collapse hits bond providers for £100m

Bonding providers are understood to be facing £100m hit from the collapse of London contractor Ardmore.
Sources in the market say surety providers are braced for a £100m hit compounding a few torrid years of losses from high-profile contractor collapses.
One source told the Enquirer: “While Ardmore’s hit will be less than the £160m from the collapse of Henry Projects it will still spook the surety market and the cost of bonding is sure to rise again.
Surety provider