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Thu May 30 2024

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Construction's business failure rate averages ten a day

30 Jul 12 On the average working day in Britain, 10 construction companies go bust.

More than 5,500 construction companies have become insolvent since July 2010, according to number crunching by accountancy firm PwC. That equates to 53 a week.

The second quarter of 2012 did see a slowdown in construction’s insolvency rate. The 644 insolvencies was a 15% improvement on the previous quarter’s 759 construction insolvencies and a 7% improvement on Q2 2011’s figure of 694.

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