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Fri February 26 2021

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Scottish builders welcome decline in insolvencies

30 Apr 14 The Scottish Building Federation has welcomed new figures published by the Insolvency Service showing the number of Scottish building companies going bankrupt fell by 33% during the year to March 2014.

In total, 87 Scottish construction companies were forced into compulsory liquidation during the last financial year compared to 129 in the previous year and 198 during 2011-12.

 Scottish Building Federation managing director Vaughan Hart said: “It’s positive to see the number of building companies going bankrupt has continued to fall over the past 12 months. I hope this positive momentum can be sustained as the industry continues to recover.

“That said, many construction companies are continuing to face challenges around cash flow, late payments and restrictive bank lending. We need to see efforts re-doubled to tackle these problems within the industry and across the economy as a whole. That will help to put the industry on a firmer footing for the long term and ensure the number of construction companies forced out of business continues to decline.”

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