Just six construction companies went into administration in April, Construction News can reveal.
The number of administrations was the lowest for any month since Creditsafe began providing
CN with the data at the start of 2020. There were 10 fewer company collapses than in the previous month, and three fewer than in April 2020.
Commentators have repeatedly said that the continued government support and a ban on creditors action is helping keep numbers down.
Richard Tett, head of London insolvency and restructuring practice at law firm Freshfields, said the number is also reflective of global trends with support packages, limits on creditors action, rent and tax deferrals as well as “super low interest rates” and “generally supportive lenders” helping companies in many countries.
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About Federation of Master Builders
The Federation of Master Builders (FMB) is the UK s largest trade association in the building industry, with national offices in England, Northern Ireland, Scotland and Cymru, supported by additional regional offices.