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Is your construction company struggling?

Companies within the construction sector are a lot more vulnerable to cash flow problems and insolvency when compared to other sectors in the UK. There are numerous reasons why the industry seems to suffer the most when it comes to insolvency rates – ranging from rising inflation and cash flow issues, to unpaid invoices and concerns around Brexit.

Specialists in the construction sector

At Clarke Bell, our Licensed Insolvency Practitioners understand these problems. We have more than 24 years’ experience in helping companies during financially uncertain times. We can help your company deal with its problems. If insolvency is required, we can help you deal with it legally and affordably.

We provide a number of services for construction companies, including Creditors’ Voluntary Liquidations (CVLs). Our fee for a CVL is from just £1,995 (all inclusive).

Our Licensed Insolvency Practitioners will help you deal with your company’s cash flow

Have you fallen victim to subby-bashing?

Many subcontractors in the construction sector fall victim to the practice known as “subby-bashing, and suffer serious cash flow problems as a result.

Larger firms are frequently delaying payments to the subbies working for them, knowing they won’t have the resources to fight back, and that they won’t want to risk losing future work.

It’s a shocking practice, which unfortunately is still all too prevalent in the construction sector.

  • Many small to medium-sized enterprises (SMEs) across the UK are owed over £50 billion in late payments.

If you’ve fallen victim to this practice, give us a call. We can help you work out the best options for you and your company to take now.

Struggling with CCJs, late payments or bad debts?

If you have been issued with a County Court Judgement (CCJ) you should deal with it straight away. Having a CCJ against your company can not only affect its credit rating, but it can also disrupt supplier contracts, future loans and cause numerous creditor problems. It could eventually lead to a situation where you find the ‘Sheriffs Are Coming’ to your offices.

A rise in CCJs has certainly lead to an increased closure rate of businesses. The construction sector also tends to have a higher value of unpaid invoices, late payments and bad debts than most other industries.

Our Licensed Insolvency Practitioners can provide you with the professional advice and expertise that you’ll need when it comes to dealing with a CCJ situation, resolving a late payment problem or dealing with debt.

Our advice is free and we will always aim to help you regain control of your situation and peace of mind.

Growing concerns

Changes to data breach fines are threatening to add further risks to the sector – largely due to the fact that the industry tends to be vulnerable to certain cyber-attacks, like ransomware.

Other stats released by the Office of National Statistics show a worrying trend of persistent new company insolvencies in the sector – with 2,557 occuring in 2016 alone. Coupled with these problems plaguing the industry, the Construction Products Association’s outlook for the sector remains bleak. A potential rise in the price of imports, along with a fall in business and consumer confidence in the UK economy also pose future risks to the industry.

Many company directors opt for the solution to cease trading and enter into a Creditors’ Voluntary Liquidation (CVL). A CVL allows you to deal with any business debts in a legal way, gives you total peace of mind and lets you take some control over the situation.

This solution may not be necessarily right for you, which is why our experts are on hand to provide free advice to help you make the best choice.

Thank you for all your help with the liquidation matters. You were a joy to deal with.

They kept me properly informed throughout the whole process with full explanations to my many questions….their patience and empathy meant so much to me. My heartfelt thanks to them all!

Thanks to the help I received from Clarke Bell, I am able to pay off my debts in a reasonable and realistic manner.

Company suffers as their client won’t pay agreed fees

Our client was a limited company in the Manchester area, trading in the building sector. The company’s turnover had increased gradually since it started, and things were going well. Then its major contract went over budget. The director promptly approached their client to advise them of this and he was told this was acceptable and…

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