Slump in the UK construction industry gets worse | Wilkins Kennedy

In our press release in August 2012 ? 1570 Construction businesses go bust in Q1 2012 -? we reported that 1570 construction companies went out of business in the first three months of 2012, up from 1547 the quarter before.

It looks as if this trend is set to continue in the first quarter of this year as the slump in the UK?construction industry worsened in December 2012.? According to data released yesterday by Markit and the Chartered Institute of Purchase?&?Supply, the purchasing managers? index (PMI)?for the construction industry fell to a six-month low of 48.7 in December, from 49.3 in November. The index value has fallen further below the critical no change value of 50, and suggests that there are hard times ahead for the UK construction industry.

Tim Moore at Markit said,

?December rounded off a miserable year for the UK construction sector,?? ?with output declining at the steepest pace for six months.?? Moore further added that ?unlike many other industries, construction firms don?t expect much of a let-up in 2013, due to worries that client purse-strings could be tightened in the coming year.?

Many businesses experience cash flow or other financial difficulties at this time of year and go on to flourish as a result of taking professional insolvency advice early.? If you are concerned in any way and unsure of the options available to your business please contact us.? Our initial meeting is free with no obligation and completely confidential.

Anthony has extensive experience of turnaround and insolvency across a broad range of sectors following in the footsteps of previous generations of the Cork family. His experience includes secondments to two of the largest clearing banks in the UK. Anthony is well placed to advise banks, asset based lenders and other stakeholders on all aspects of turnaround and insolvency.

Source: http://news.wilkinskennedy.com/?p=202

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