4,076 UK construction firms collapsed in November 2022

Posted on January 30, 2023   |  

In November 2022, 361 construction firms in the UK went out of business, which is 4.6% higher than in October and 11.1% higher than a year ago.

Taking bankruptcies in the year to November 2022, 4,076 construction firms went out of business, the highest number of construction firms to go out of business on an annual basis since the financial crisis more than a decade ago.

58% of the 4,076 construction firms were specialist contractors (Lower Chart), they are smaller firms that are on fixed price contracts signed 12+ months before. 

In November, main building contractors accounted for 36% of UK construction bankruptcies and were 11.8% higher than in October and 39.4% higher than a year ago. 

6% of the construction firms that went out of business were civil firms, which were less affected due to strong infrastructure activity.