Construction sees insolvencies drop

THE worst could now be over for the construction industry with a 33% fall in insolvencies last month.

However, insolvency firm kavanaghfennell predicts that there won’t be a decline in corporate insolvencies this year on 2010 levels.

Their figures show that four companies a day went bust between January and May this year. In the construction industry there was 24 insolvencies last month, compared to with 36 in April.