The building and construction sector experienced 249 business insolvencies in April 2012, according to Experian’s analysis, which is 14% fewer than in April 2011.
The seven failures in the building materials sector was a 12.5% improvement on April 2011.
Experian’s insolvency index gives each business sector a financial score. Building and construction’s score has improved year-on-year from 82.22 to 82.70.
The percentage of the construction businesses failing declined from 0.18% to 0.15%.
Across all industries, a total of 1,564 businesses failed during April 2012, representing 0.08% of the business population. In comparison, 1,808 firms failed in April 2011, representing 0.10% of the business population.