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S&W team comment on latest company insolvencies data for construction industry
New data published today by the Insolvency Service shows that there were 367 construction insolvencies in February 2025, the highest they have been since June 2024. This is a 20% increase from January 2025 (306) and 3% increase from February 2024 (355).
Mark Supperstone, Partner at S&W, comments: "Company insolvencies remain an unfortunate feature of the construction sector, with the ONS insolvency figures for February 2025 being indicative of the ongoing struggles faced by the wider industry in recent years. The S&P Global Construction PMI report for March 2025, demonstrated output levels falling for the third month in a row and the lowest business optimism since October 2023. Economic uncertainty in the UK and globally, in the wake of the Autumn Budget and changes around US tariffs on raw materials, is also a significant concern for the sector and already impacting planning and project timelines. There are many indications that the industry’s woes are not going to disappear any time soon.
“The reforms contained in the government’s Planning and Infrastructure Bill, intended to speed up the ‘planning to commencement’ pipeline, could provide sorely needed new projects for local and national contractors. However, the next few months will be crucial for cash-strapped firms, and businesses should consult with key advisers during this difficult period to ensure that they stand to benefit from potential future opportunities.”
[*Note: Today's ONS insolvency release covers company data for March 2025 whilst sector specific data lags by a month, therefore the construction data released today covers February 2025.]
ENDS
About S&W
S&W is one of the fastest-growing UK accountancy firms and builds on the heritage of Smith & Williamson which was founded in 1881. It was launched as a new business on March 31, 2025, following the sale of Evelyn Partners’ Professional Services business to Apax Partners.
As a leader in the accountancy mid-market, the firm offers clients a broad range of services spanning business and private client tax advice, assurance and business services and a suite of advisory and digital services that include recovery and restructuring, transaction services and forensic advice.
S&W has c1,800 employees and more than 120 partners operating from 15 towns and cities in the UK and Republic of Ireland.
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