The latest Begbies Traynor Red Flag Alert research for the third quarter of 2013 shows that there has been a 42% decline in the number of construction companies on the critical list, and a 4% decline since the second quarter.
The report says that, as of the end of September 2013, there were 494 companies in the construction sector in critical distress, down from 516 three months earlier and 855 a year ago.
The number of construction companies deemed to have problems that were not ‘critical’ but were ‘significant’ was 13,862 at the end of the third quarter. This was down 38% on the year before but up 21% on the previous quarter.
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