Unsupported browser

For a better experience please update your browser to its latest version.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Insolvency hits 68 practices this year

  • Comment

The architecture sector suffered 68 insolvencies in the first three months of this year, according to research

PwC data showed there had been 378 insolvencies in the sector in just two years as the economic downturn took its toll.

Across the construction sector there were 5,500 insolvencies between 1 April 2011 and 31 March 2013.

London alone saw 977 construction insolvencies in two years.

There were 5 per cent fewer insolvencies in the first quarter of this year than in the final quarter of 2012.

The North East & Cumbria and the North West were the only regions to see increases in numbers of insolvencies in the first quarter of this year. 

PwC engineering and construction leader Jonathan Hook said: ‘The sector in the UK is still experiencing declining output year on year so we are not necessarily over the worst in terms of insolvencies. 

‘There is an ongoing cash squeeze throughout the supply chain, as has been evidenced in recent reported results.’

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.