Reports are surfacing this morning that the social housing giant, Connaught, is on the brink of collapse.  The firm is reported to have outstanding debts of around £220m with several banks, and is struggling to agree re-financing packages with them.

An announcement is expected from the company within 24 hours according to reports, with the company likely to enter administration.

The company, which was founded in 1982, describes itself as an integrated services group and employs around 10,000 people.