The number of construction and property companies that entered administration in the first quarter hit 911.
Over the past three years, 12,710 property and construction firms have gone out of business. However the 911 insolvencies recorded by the Insolvency Service in the first quarter was a 2.5% fall on the 934 in Q4 2011.
Construction risk management firm CR Management said that despite the decrease in insolvencies, the “figures still look pretty catastrophic”.
However, it added that some firms’ good practices have produced thriving businesses.
joanna.bourke@estatesgazette.com
