Sobering reading in the Guardian today about housebuilding and the construction industry on the whole which certainly mirrors the trends we are seeing our clients face on a day to day basis. The costs of building materials have skyrocketed recently, shortages of bricklayers, plasterers and other construction workers and high cost of debt finance are all contributing to the swathe of construction industry insolvencies we have been witnessing.
| less than a minute read
An industry in distress
Get in touch
Get in touch
While the large builders dominate the headlines, Britain’s 342,000 small and medium-sized construction firms are regarded as the backbone of the industry. The problems are mounting: construction has had more insolvencies than any other sector in the past year and accounted for almost one in five of all business failures in recent months. Between April and June, 1,122 construction firms went bust, the most since spring 2009, according to the Insolvency Service.
To receive updates on topics relevant to you, at a frequency of your choosing, please subscribe to Devonshires Insights: Click here to subscribe
Get in touch
Get in touch
/Passle/6491ca5e863f054b458578e8/MediaLibrary/Images/2024-11-25-08-43-33-528-674438b5ef4b893019606b33.png)
Many London boroughs are not yet prepared for the expiry of their private finance initiative (PFI) contracts and are constrained from...
/Passle/6491ca5e863f054b458578e8/MediaLibrary/Images/2024-12-19-16-17-22-473-67644712da543fe5c20bfc53.jpg)
/Passle/6491ca5e863f054b458578e8/SearchServiceImages/2024-12-19-11-23-48-722-676402443e67bad811f69344.jpg)
/Passle/6491ca5e863f054b458578e8/SearchServiceImages/2024-12-18-10-08-41-003-67629f29a83530c737099770.jpg)