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Construction firms 'are at risk'

Deputy news editor at Construction News Tom Fitzpatrick has underlined the fact that many medium-sized construction firms up and down the country are struggling more than any other.

Indeed, on July 30th, PricewaterhouseCoopers reported that there have been 5,527 insolvencies in the construction sector since the third quarter of 2010.

Mr Fitzpatrick said that smaller firms are in a relatively strong position as they are able to diversify and adapt - possibly even shifting into sectors where it is not currently as difficult to operate.

He added that the latest forecast figures appear to indicate that no comeback is expected from the current slump until 2013 or even early 2014.

Furthermore, the expert claimed that his organisation is getting communications regarding administration and insolvency on a daily basis at the moment.

"While quarterly figures are affected by the winter and that kind of thing, I am not sure that there is generally a feeling that things are getting better at the moment," Mr Fitzpatrick continued.ADNFCR-1898-ID-801420690-ADNFCR

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