A bleak picture
Data by a leading insolvency specialist shows that 5,919 United Kingdom (UK) construction companies find themselves in dire straits, with a further 72,257 companies (representing 20 percent of the total number of construction companies in the UK) in a less critical but still concerning state of financial distress. In the UK, there have been a record-breaking number of construction sector insolvencies in the past 12 months, with the sector now making up the greatest contribution to the UK’s insolvency figures in 2023 – representing 17 percent of all insolvent firms.
Given profit margins for various stakeholders in the construction supply chain tend to hover at low single figures, major economic events and unstable marke…
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