Construction insolvencies creep up in September
Construction News (UK)
AI Article Summary
Insolvencies in the construction sector rose slightly from August to September, with 291 construction firms failing. The data from the Insolvency Service highlights continuing challenges in civil engineering and overall business climate. The total business failures recorded were 2,029 in September.
What This Means for Canadian Contractors
For Canadian builders, this means being extra cautious when assessing the financial health of partners, especially in civil engineering projects. The rise in insolvencies could influence decision-making regarding credit and payment terms. Additionally, it's crucial to monitor potential disruptions in the supply chain and adjust project timelines accordingly.
