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UK construction companies go under at fastest rate in a decade

More than 4,000 operators become insolvent within a year as cost inflation and housebuilding slowdown bite

Construction companies in the UK have gone out of business at the highest rate in a decade as a result of persistent cost inflation, a slowdown in housebuilding and delays to government infrastructure projects.

Figures from the government’s Insolvency Service show about 4,280 operators became insolvent in the 12 months to June, 16.5 per cent more than the same period a year ago.

Last week Buckingham Group, which has worked on the new HS2 railway line and the Anfield football stadium in Liverpool, became one of the largest contractors since the collapse of Carillion in January 2018 to stop trading.

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