Voluntary liquidations in the construction sector increased by 14% over the last quarter, far outpacing insolvency in the wider corporate sector.
While UK insolvency statistics remained flat, there were 566 voluntary liquidations in construction, according to accountant Baker Tilley.
Partner Mark Wilson said: “Construction is often considered to be one of the barometers of the UK economy and statistics indicate that construction had contracted 3% in the first quarter.
“However, this is contradicted by the construction purchasing managing index which in April came in at 55% suggesting growth. Perhaps the only conclusion we can draw at this stage is that the UK construction sector’s future remains uncertain.”
