Construction insolvencies: Subbies still the biggest casualties
Specialist firms overrepresented as industry experiences highest insolvencies.
Specialist firms overrepresented as industry experiences highest insolvencies.
Construction continues to be the worst-hit, accounting for 17.4 per cent of cases.
More than 4,280 construction firms went out of business in the UK in the year to May.
Contractors in the UK have gone out of business at the highest rate in a decade.
Construction sees the highest number of insolvencies in the year to April with 4,104.
The wider group comprises Lorne Stewart Engineering, Lorne Stewart Facilities, Rotary Building Services, and Modular Designed Solutions.
The objective is to speed up infrastructure development, streamline costs, and optimise resource sharing for public sector works across the East of England.
“Players in the construction sector are not always good at upholding their contractual obligations to each other,” – Alan Stanley.
Welsh building and civil engineering company Andrew Scott, delivered record results ‘building on the strong performance’ of prior years.
The government has launched a new ‘Fair Payment Code’ to tackle late payments, support small businesses and deliver growth.