February 2020 Newsletter
Insolvency rates in the Construction Industry for the first six months of the financial year are 27% higher than last year. On average 160 per month compared to 126 per month last year. Total Insolvencies in the Construction Industry were 1,515 in 2018/2019. If the trend continues for the second half of the financial year then we will be looking at total insolvencies of around 1,922 which would be the highest since 2013.
The impact of the coronavirus on an already slowing economy could mean we are in for a rough ride for the remainder of the year.
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