Construction business insolvencies have risen to their highest-ever level, a City AM analysis has found, as a barrage of rising costs continues to squeeze many in the sector to the point of collapse.
As many as 840 construction firms appointed liquidators or administrators in the first four months of the year, the analysis of corporate filings found, an increase of more than five per cent compared to last year and a near-doubling compared to typical pre-pandemic levels.
The latest data published by the Insolvency Service showed the sector continued to be the hardest-hit for insolvencies, accounting for 19.5% of all UK company failure in February, a jump of around three percentage points compared to last year and the highest…
