Consultant at national law firm Roythornes Solicitors, Derryn Rolfe, explains how construction clients can prepare for all eventualities as insolvency remains rife across the industry
Construction company failures in September 2023 were 40% higher than in September 2022; administrations were 54% up this year on the same period last year, and the industry press has been full of further insolvencies since.
Some big names have gone, with their supply chains going as a consequence, and the projects they were working on suffering delays and additional costs. Some builds become economically unviable due to the additional costs and some are so delayed that the market changes.
There is no upside, but there are means of improving the position …
Read the full article at: https://www.pbctoday.co.uk/news/planning-construction-news/legal-considerations-construction-clients-amid-insolvency-spike/136089/