Construction company insolvencies increase by a third

Construction company collapses during 2009 jumped by a third compared to 2008, according to new figures from PricewaterhouseCoopers.

The data for the final quarter of last year shows that 696 construction companies went into insolvency during the three month period.

This was a 4.8% increase on the third quarter.

Insolvencies for the whole of 2009 were up 33% on the previous year at 2,932, compared to 2,204.

Construction insolvencies represented 15% of insolvencies across all business sectors during the fourth quarter of 2009, the hardest hit sector.
 

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