Construction companies collapse at highest rate in a decade

UK construction companies have gone out of business at the highest rate in a decade, as a result of 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% more than the same period a year ago. It was the highest since the 4,537 recorded in 2012, when construction insolvencies peaked following the effects of the financial crisis. 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 to stop trading since the collapse of Carillion in January 2018. The FT (£)