Construction sector remains hardest hit for insolvencies
More construction firms went bust than any other sector in March, as investor confidence impacted by skills, regulations and supply chain tariffs.
More construction firms went bust than any other sector in March, as investor confidence impacted by skills, regulations and supply chain tariffs.
Construction industry insolvencies in 2024 fell eight per cent compared to the year previous, despite the industry experiencing the highest number of insolvencies of any sector.
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.
Another fit-out specialist attributes a “surge in activity” in its core market to the administration of ISG Group last year.
‘If you’re attracted by the tax-free stuff, you’re probably doing it for the wrong reasons’