Builders’ merchant insolvencies significantly decline in November
Posted: Thursday, December 12th, 2024
The news is positive for an industry battling ongoing economic challenges, Builders’ Merchants News reported. Marketing data specialist for the construction industry, Insight Data, has described a significant 72% drop in builders’ merchant insolvencies for November 2024. With numbers falling from 21 in October to just six in November, this incredible reduction shows positive news for the merchanting industry, which continues to battle ongoing economic challenges. The latest research also reveals the affected merchants were spread across Scotland, the Home Counties, North West England, the East Midlands and Northern Ireland. Accounting for 33% of all reported insolvencies, the North West experienced the highest regional impact. Compared to insolvencies across the wider construction sector, builders’ merchants were the only group to see a substantial reduction in November. The overall data presents a very mixed picture in the industry, as seven main contractors with a turnover above £5 million ceased trading – an increase of 133% compared to October – while small builder insolvencies rose from 85 in October to 115 in November.
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