Updated: 29th November 2018
Recently released Red Flag Alert statistics for Q3, show a strong level of stability in the construction sector when compared to last year’s figures.
Published by Begbies Traynor, parent company of RBR Advisory, the quarterly Red Flag Alert report compiles data around the financial health of UK businesses and is recognised as being one of the most accurate indictors of corporate economic well-being.
Q3 statistics found that construction companies classed as ‘in distress’ dropped by 2 per cent, meaning that around 1000 companies are now more optimistic about their financial prospects.
The beginning of 2018 came with the unexpected announcement of the collapse of construction giant, Carillion, which disrupted the build of primary school projects and hospitals across the country, not to mention the loss of over a thousand jobs.