Phone 02920 886 500

Latest News

Latest News

Prices

Learn more about the prices of our product packages



'Help to Buy' fuels growth in the construction sector, however specialised construction still struggles

Insolvency reports released by Creditsafe this month again show the construction industry leading in monthly insolvencies.

Insolvency reports released by Creditsafe this month again show the construction industry leading in monthly insolvencies.

In total there were 2,610 insolvencies in April, of which 409 were in construction. But it’s not all doom and gloom – construction of domestic buildings saw a decrease in insolvencies month on month from the start of this year, reflecting the influence of the government’s flagship ‘Help to Buy’ scheme.

For specialised construction however it’s a different story, Balfour Beatty have for the second year running issued a profit warning for 2014, causing its share price to crash in early trading on Wednesday. Its CEO Andrew McNaughton also resigned immediately following the announcement. The group blamed "adverse market conditions" in its mechanical and electrical engineering division as well as "further costs increases and delays" in its major building projects division for the fall in profits. Insolvencies in specialised construction for April 2014 totalled 253 representing 57% of all insolvencies within the construction industry.


For more insolvency information complete the form

International

Company credit reports on 240 million companies worldwide.

Access of 190 million company credit report with Creditsafe

3D Ledger

Identify gaps in your ledger with 3D Ledger management.

Free Trial

Try Creditsafe for free and reduce your exposure to bad debt.