The company said work on The Shard will be held up because of a lack of funding for the project,
 
CLS said it is ready to start demolition works on the project at the London Bridge Quarter.
 
However, the company said its negotiations on funding for the project have been hampered by adverse credit markets.
 
The company said: “It is hoped that the funding can be finalised in the near future in conjunction with a restructuring of the shareholding structure. We will not commence any major development works until the loan finance has been secured.”