Construction insolvencies tick up for second consecutive month
Summary
Official Insolvency Service figures show that construction insolvencies rose for a second consecutive month. The sector remains the worst affected, with rolling annual insolvencies reported as 50% higher than a decade ago.
Why it matters
Higher insolvency rates can affect the reliability of contractors, suppliers and project delivery on residential schemes. Surveyors may need to factor increased counterparty risk into due diligence, defect remediation and ongoing works oversight.
Key points
- Construction insolvencies increased for the second month in a row.
- The sector remains the worst-hit industry in the latest official data.
- Rolling annual insolvencies are 50% higher than 10 years ago.
- The figures come from the Insolvency Service.
Organisations:
Insolvency Service, Construction News
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