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Construction insolvencies fall 10%

30 Oct 15 The number of new construction insolvencies reported during the second quarter of 2015 dropped 10% to 613, compared to the previous quarter.

There were 678 insolvencies in the first quarter of the year and 710 during Q2 2014, according to new figures released by the Insolvency Service.

Construction had more insolvencies than any other sector, representing 17% of all those reported in Q2 2015 (3,648).

Construction also tops the table of new insolvencies for the 12 months ending Q2 2015 with 2,600, though this was down 3.6% from the 12 months ending Q1 2015.

There were 2,880 construction insolvencies during 2014. However, this is a huge fall from the deepest days of the recession, with 4,071 reported in 2010 and 1,112 in the first quarter of that year.

Overall, the Insolvency Service said that the number of insolvencies “continued to decrease”.

There were a total of 19,683 individual insolvencies in Q3 2015, 2.8% higher than Q2 2015 but a decrease of 18.5% compared to Q3 2014. A break-down of these figures by industry has not yet been published.

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