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Construction sector has the highest rate of Insolvencies

UK debt collections

The Construction sector was the worst hit industry for insolvencies in the year to April 2024, the Insolvency Service has revealed. Some 4,401 construction companies in England and Wales registered as insolvent in the period – 18 per cent of all businesses to do so.

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Businesses suffering from significant Late Payment delays

UK debt collections

The wholesale and retail trade sector, which also includes the repair of motor vehicles and motorcycles , is in second place, with a median wait for payments of 36 days. Businesses in this sector receive payments after around 47 days. This industry often has businesses operating on thin margins and relying on credit to maintain inventory.

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Increase in UK Businesses filing for Administration

UK debt collections

Retail, manufacturing, construction , real estate and hospitality were the worst-hit sectors for the second year in a row, accounting for 57% of all administrations. Organisations can only bear that pressure for so long before its sustained impact starts to wash through and they begin running out of cash.

Retail 80
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Industries with the Best and Worst Recovery Rates

Nexa Collect

Construction. Retail/Consumer Misc. Plumbing, Heating, Air. Engineering. Interior Design. Travel Agent. Distribution. Medical / Athena. Publishing. Credit Unions. Pest Control. Auto Supply & Repair. Restoration Companies. Commercial. Contractors, Special Trade.

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1 in 6 invoices being paid late according to survey

UK debt collections

When it comes to industries, retail is the top performer with just 11% of invoices paid late. IT & telecoms and construction professions experience more than 20% late payments – or 1 in 5. Construction. 17% are securing at least some payment ahead of beginning work. A lucky third (33%) never experience late payments.

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Nearly 40,000 UK Businesses in critical financial distress

UK debt collections

“The construction industry, which has long been a bellwether for the health of the economy, looks particularly vulnerable with over 70,000 firms now in significant financial distress and circa 6,000 in much more serious critical financial distress – often a precursor to formal insolvency,” she added.

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Constructive Eviction: Is There Such a Thing Under Florida’s Commercial Landlord-Tenant Act?

Jimerson Firm

This article seeks to explore those circumstances and provide commercial landlords with information that may be helpful in avoiding constructive eviction claims by commercial tenants. To mount a successful case of constructive eviction, a tenant must show there is “wrongdoing on the part of the landlord.” 2d 1255, 1257 (Fla.