Engineering and construction (E&C) companies are used to cyclical downturns, but the speed and strength with which COVID-19 has struck is unprecedented. Projects are being delayed or cancelled. Supply chains are under threat. Employee and subcontractor labour health is a concern, and there are practical challenges around social distancing on construction sites. Companies that have had to furlough workers might find the future availability and skills of those workers uncertain. And because many construction and contracting companies operate without substantial capital reserves, the impact of the lockdowns could force some to restructure debt, seek new sources of capital or risk insolvency.