Home Commercial News Construction sector loses 36 firms in February

Construction sector loses 36 firms in February

712
0
Construction sector loses 36 firms in February

As per the reports, a total of 36 construction companies fell into administration in February 2020. The list goes on with around 246 more companies getting into liquidation and another 82 formally held meetings with creditors. The total figure of firms is rounded to 364 which would be into the process of insolvency by end of this month.

Keeping aside the pattern of primary or secondary business activity in the construction sector, the companies irrespective of sizes are into the risk of insolvency. London-based refurbishment and fit-out specialist S&T (UK) was the largest company by turnover to enter administration in the period. S&T had revenue of £114m according to its most recent accounts, dated to 31 December 2017. The company shortened its accounting period twice before it went into administration, thus going through the financial crisis.

LEAVE A REPLY

Please enter your comment!
Please enter your name here