Insolvency in the Construction Sector

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 28 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 +VAT.

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

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.