Civil engineering and groundworks contractors are first to suffer as new projects dry up. The fit-out specialists, working on later stages of new-build projects, feel the effects rather later.
News of the collapse of two fit-out specialists suggests that this sector is now bearing the brunt.
London-based refurbishment and fit-out contractor Isis Projects and Wokingham-based Advanced Interiors have both gone into administration in the past two weeks.
Isis Projects is now in the hands of insolvency practitioner Rod Butcher of Butcher Woods in Birmingham. A spokesman for Butcher Woods confirmed that Isis had ceased trading and it was too early to say how much money was being sought by creditors.
The administration of Advanced Interiors, which specialised in suspended ceilings, is being handled by Richard Hawes and Julia Branson of the Reading office of Deloitte LLP. They were appointed on 3 May.
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