birketts – How to mitigate the risk of contractor insolvency on construction projects

Following Birketts article in November 2021 on what to do when your contractor becomes insolvent, their prediction that the number of insolvencies would only continue to rise has certainly rung true. By November 2023 Construction News reported a new monthly record of company insolvencies at 421. Its latest reports show that the construction industry still “tops the insolvency table”, with the number of business failures within the sector raising to 4,274 in the year to May 2024.