However, construction remains one of the worst affected industry sectors, according to an analysis by accountancy firm PwC.
There have been 5,580 construction insolvencies over the past two years, PwC said, including 1,559 general construction/civil engineering firms and 373 plumbing firms.
In Q4 of 2012 (October to December) there were 12% fewer insolvencies in construction than the previous quarter, with 621 companies failing. This was the lowest quarter for construction insolvencies across the two-year period.
It was also 11% lower than the figure for Q4 2011, a year earlier.
London was the region with the highest number of constrcution insolvencies - at 125 - although even this was 5.3% fewer than for the previous quarter.
PwC’s engineering & construction leader, Jonathan Hook , said: “While there has been a decline in the number of insolvencies over the last quarter the industry remains under severe pricing and cash flow pressure. I anticipate further failures in the supply chain over the coming period with the first half of this year being the peak point for failures in the sector.”
The numbers in the table below relate to the incidences of insolvency rather than the number of companies.
Construction insolvency statistics Q1 2011 to Q4 2012
|
2011 Q1 |
2011 Q2 |
2011 Q3 |
2011 Q4 |
2012 Q1 |
2012 Q2 |
2012 Q3 |
2012 Q4 |
Total |
|
744 |
695 |
701 |
697 |
759 |
658 |
705 |
621 |
5,580 |
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