Twitter
Daily construction news
Weekly plant news

Construction News

Wed July 23rd 2014

Related Information
Related Information
Related Information

News » UK » Construction insolvencies slow » published 15/10/2012

Construction insolvencies slow

The rate at which construction companies are falling into insolvency has slowed for the last two quarters.

There have been 6,179 construction industry insolvencies since the third quarter of 2010, according to number crunching by accountants PwC.

However, from a recent peak of 759 construction companies falling insolvent in the first quarter of 2012, the number dropped to 656 in Q2 and 631 in Q3.

Despite this, construction remains ones of the worst sectors across the board to suffer from insolvencies.  

Jonathan Hook, PwC’s Engineering & Construction leader, said:  “Whilst there has been a decline in the number of insolvencies over the last two quarters the industry remains under severe pricing and cash flow pressure. I anticipate further failures in the supply chain over the winter period with the first quarter of next year being the peak point for failures in the sector.”

Of the 6,179 construction insolvencies since Q3 2010, 1,799 (approximately 30%) were general construction and civil engineering firms, with the remainder made up of architectural, building, water projects, painting, roofing and plastering.

MPU

Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News, Contract News & Supplier News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.

This article was published on 15/10/2012 (last updated on 15/10/2012).

More News Channels