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Construction insolvencies up 12.5% in July
Over 300 business failures meant insolvencies are up on same period in 2010
Over 300 construction firms became insolvent last month according to new data from Experian. The figure marks a 12.5% increase in insolvencies compared to July 2010.
Among the 310 business failures were five building materials companies.
On average 0.18% of construction firms failed in July compred to a national average of 0.1%.
Recent construction firms to go under include social housing contractor Kinetics, which went into administration last month. Around 550 staff lost their jobs after the £100m turnover company collapsed.
M&E services company Adroit Construction announced yesterday it too had fallen into administration.
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