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Big rise in Construction sector insolvencies

UK debt collections

Latest data analysis by Mazars has found that on average a dozen construction firms are going bust every day after 4,370 firms collapsed last year. In the year to the end of November, 4,370 companies went insolvent compared to 4,086 in 2021/22 and 2,481 in 2020/21. This is an immensely difficult period for the construction sector.

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Webinar: 15 Critical Construction Contract Provisions

Jimerson Firm

On Wednesday, March 3, 2021 from 12:00 PM-1:00 PM, three of our partners will present 15 Critical Construction Contract Provisions: How to Use Them to Protect the Project and Your Bottom Line. Construction project contracts have varied nuances and needs depending on the specific project and its scope of work to be performed.

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Webinar: Navigating the Post-Pandemic Era of Rapidly Escalating Construction Prices

Jimerson Firm

On Wednesday, August 25, 2021 from 12:00 PM-1:00 PM, three of our partners will present Navigating the Post-Pandemic Era of Rapidly Escalating Construction Prices: A Panel Discussion on Trends, Tips and Best Practices. Ryan Maloney will lead this one-hour virtual panel for the construction industry. REGISTER NOW.

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Startling rise in construction firm recovery loan defaults

UK debt collections

A startling rise in construction firms defaulting on covid loans could signal a wave of future business failures. The default rate in construction is 2.5% – more than twice the default rate of some other sectors, such as arts and entertainment (1.3%) and healthcare (0.8%).

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Contractors and Owners in Florida Beware: Higher Interest Rates and Increased Penalties for Withholding or Misapplying Construction Funds

Jimerson Firm

On July 1, 2021, Florida Senate Bill 378 takes effect and amends a number of Florida Statutes governing prompt payment on various types of Florida construction projects. These changes apply to any construction contracts executed on or after July 1, 2021. of the Florida Statutes, plus 12% per annum.

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Webinar: 15 Critical Construction Contract Provisions for Subcontractors

Jimerson Firm

On Wednesday, March 31, 2021 from 12:00 PM-1:00 PM, three of our partners will present 15 Critical Construction Contract Provisions: What Subcontractors Should Know to Protect Their Bottom Line. Ryan Maloney will lead this one-hour webinar for the construction industry. Wednesday, March 31, 2021. Partners James O.

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Critical Construction Contract Provisions for Subcontractors

Jimerson Firm

On Wednesday, March 31, 2021 from 12:00 PM-1:00 PM, three of our partners presented Critical Construction Contract Provisions: What Subcontractors Should Know to Protect Their Bottom Line. The post Critical Construction Contract Provisions for Subcontractors appeared first on Jimerson Birr.