Credit, Collections & Insolvency News
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…
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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…
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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…
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