1st April 2012
Commercial Risk Management Limited
With effect from 1st April 2012 the business was incorporated as 'Commercial Risk Management Limited'. It will continue to trade as CR Management using the same logo.
5th August 2011
Surprise drop in the number of construction companies out of business
Today's insolvency figures show a surprise 3.79% drop in the number of construction companies going out of business in the last quarter.
The first quarter of 2011 saw an 18% increase in the number of construction companies ceasing to trade in England and Wales, a trend that the industry expected to see continue, however the figures issued today by the Insolvency Service for the second quarter, shows a decrease of 3.79% instead.
There was a rise in the number of companies going into receivership which increased by 26%, but a drop across all other insolvency routes including compulsory and voluntary liquidations and administrations which means a net decrease in the number of firms going out of business. This is totally unexpected bearing in mind the state of the construction market.
Alan Harris, founding partner of construction risk management company, CR Management, says, "Conditions in the construction industry continue to be challenging and many expected the number of construction companies going out of business to continue rising so it is welcome news that the reverse has happened and we've experienced a decrease instead."
"However one quarter does not make a trend; the industry has not been helped by the announcement that in June the number of projects on hold increased by over 40% starving the market of opportunity and putting even greater pressure on businesses to win work and to win it with a profit margin."
"The future continues to look challenging and there may well be an overall upward trend in construction companies becoming insolvent due to mounting pressure on tender prices generated by a lack of opportunity and increases in material cost. The only saving grace at present is the continuing low interest rates."