Administrations across the property and construction sectors have fallen with the “better managed businesses coming through”, according to Deloitte.
Deloitte research into all administrations reported to The Gazette found that the property and construction sectors in particular are “holding fast”.
Administrations in the property sector have risen just 7% in the first three-quarters of the year compared with the same period in 2008.
They were down 14% in the third quarter of 2009 compared with the same quarter last year.
Deloitte writes: “Property was one of the first industry groups to be hit 18 months ago.
“We have since seen a weeding out process with the stronger and better managed businesses coming through.
“These businesses have restructured and refinanced through various measures including debt-for-equity swaps and rights issues, thereby buying themselves a lifeline.
“It is not surprising then that these figures are slowing down, and even dropping.”
Across all industry sectors Deloitte said the total number of companies falling into administration increased by 10% during the first nine months of 2009 compared to the same period in 2008.
The total number of administrations for Q3 is down on the same quarter for last year, albeit a marginal drop of 6%, recovery is still not being felt across the board.
Lee Manning, reorganisation services partner at Deloitte, said: “In spite of talk of economic recovery, it is evident that the situation is far from rosy.
“These administration figures highlight what businesses are experiencing right here and now.
“The number of companies falling into administration is still rising: although, if we are to look at our analysis of the first half of the year, which saw administrations increase by 18%, the pace appears to be decelerating as we move further into 2009.
The first nine months of 2009 saw 2,320 companies fall into administration, compared with 2109 companies in 2008.
The third quarter saw 666 companies go into administration, down 6% compared with Q308, which saw 707 companies fall into administration.
There were 199 retail administrations in the first three-quarters of 2008, which rose 8% to 215 in 2009.
