And the parallels are ominous with construction where below-cost-bidding is still rife as contractors desperately chase work.

Companies found selling horsemeat have put the emphasis on price as consumers demand ever-cheaper meals.

Food supply and catering contracts have been slashed to the bone leading to corner-cutting in the supply chain as it struggles to turn a profit.

Construction has been heading down this road since the downturn hit as contractors are forced into fearsome tender races where quality is sacrificed on the altar of lowest cost.

The upshot in the world of catering has been the odd bit of dodgy meat making it into your meals.

In construction the consequences could be far worse.

Scores of trade contractors have already become the financial victims as suicide bidding sends firms to the wall.

But forcing firms to work at non-existent margins means safety during construction could suffer or final buildings may not be up to the required standards.

Suicide bidding is an unsustainable blight on construction and needs to end now before a site tragedy turns it into a crisis.

Pre-recession, the talk across the industry was of partnering, frameworks and quality in construction.

That all went out of the window when the credit crunch hit and price once again became the over-riding factor in winning work.

Clients obviously have a pivotal role to play here.

Public sector construction projects should never be built on the foundations of financially ruined companies while private sector clients should pay the proper rate for a quality project.

The results of the race to the bottom in the catering world should send a clear message to other industries like construction.

Cut price contracts lead to bankrupt businesses, poor quality buildings and unsafe sites.

We need to stop the rot now.