Monday, February 8, 2010
427 construction businesses go to the wall in 2009
Construction businesses have been warned to brace themselves for tough times ahead despite the fledgling economic recovery, with a high rate of insolvencies reported. â€œConstruction business failures are still relatively high and averaged 106 business failures per quarter in 2009. Although this is lower than the 2008 average of 117, this continues to be a major concern for the industry... Coupled with the ongoing economic uncertainty and the impact this is having on the pipeline for future work, trading conditions for the construction sector during the first half of 2010 and beyond are expected to remain difficult." You can say that again. Article supports earlier post about expected tidal wave of business failures once companies are forced to cough up outstanding tax.