In total 3,156 companies within the construction sector were declared insolventin 2018, up 13% from 2017, according to solicitor Nocklods. It is the highest level of insolvencies recorded since 2015.
While the research shows strong demand from first time buyers has supported house builders, civil engineering businesses were deemed to be struggling.
Sixty civil engineering businesses specialising in the construction of roads, railways and utilities became insolvent in 2018, a 25% increase on 2017 when 48 such business became insolvent, according to the research.
The report identifies the knock-on effect of Carillions collapse, and major infrastructure projects, such as Crossrail, nearing completion as causes of the down turn.
Nockolds hea…
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