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Construction insolvencies up by 35%

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Posted by Jonathan Peace at 08:02 on 04 Aug 2008
Category: 
News & Updates

The building and construction sector has been hit by the highest increase in insolvencies of any industry sector - a jump of 35% in the past 12 months. A total of 449 building and construction campanies became insolvent between April and June 2008 according the PWC, whose spokesperson cited a drying up of work as a result of falling housing prices as the main cause of the rise.