Construction insolvencies hit 12 month high

The construction industry experienced the highest number of insolvencies in the 12 months to August 2024, reaching a total of 4,310 according to latest Insolvency Service data for September 2024. Commenting on the latest construction insolvency statistics Kelly Boorman, National Head of Construction at RSM UK, said “The latest rise in construction insolvencies comes amidst a number…

Read more

Government needs to improve access to funding to combat rising construction insolvencies

Analysis of the latest insolvency statistics by RSM UK has found that the construction industry experienced the highest number of insolvencies in the 12 months to May 2024, reaching a total of 4,287. Overall data for June 2024 showed that the number of registered company insolvencies in England and Wales was 2,361, 16% higher than…

Read more

Construction sector insolvencies hits 12 month high

The construction industry experienced the highest number of insolvencies in the 12 months to April 2024, reaching a total of 4,401 according to analysis of the latest insolvency figures by RSM UK. Kelly Boorman, National Head of Construction at RSM UK, said “Construction insolvencies continued the upward trajectory of previous months, with the industry maintaining…

Read more

Construction insolvencies continue to rise

Latest analysis of insolvency statistics by the RSM UK has found that the construction industry experienced the highest number of insolvencies in the 12 months to March 2024, reaching a total of 4,273. Kelly Boorman, National Head of Construction at RSM UK, said “As expected, in the 12 months to March 2024, construction continued to…

Read more

Construction insolvencies continue to rise

1st February 2024 Business | #construction insolvencies

Latest analysis by the Insolvency Service found that companies in the construction sector faced the most insolvencies last year. The five industries (in accordance with SIC 2007) that experienced the highest number of insolvencies in 2023 were Construction (4,371, 18% of cases with industry captured). This was followed by Wholesale and retail trade; repair of motor…

Read more

Construction section hit by 4,370 insolvencies in the past year

30th January 2024 Business | #construction insolvencies

Latest data analysis by Mazars has found that on average a dozen construction firms are going bust every day after 4,370 firms collapsed last year. In the year to the end of November, 4,370 companies went insolvent compared to 4,086 in 2021/22 and 2,481 in 2020/21. This reflected a 7% increase in insolvencies from 2021/22…

Read more

Perfect storm of factors could lead to over 6,000 construction company insolvencies

10th January 2023 Business | #construction insolvencies

A new report from Red Flag Alert has predicted that a perfect storm of factors could lead to more than 6,000 company insolvencies in the UK construction sector during 2023. The report has estimated that there is currently around £300 million of bad debt within the UK construction sector, which it says could rise to…

Read more

Construction insolvencies could rise by 25% in the next six months

14th October 2021 Business | #construction insolvencies

Insolvencies in the construction sector could rise as much as 25% in the next six months despite a rebound in orders according to trade credit insurer Atradius. The report found that he sector contracted by 14% in 2020, UK construction output is forecast to rebound by almost 15% in 2021 and grow by more than…

Read more