insolvencies fall by third for construction companies

Latest figures have shown that the number of construction companies to go bust has almost halved since 2008.

Credit risk analyst Vision-net have confirmed that  14% of all company failures this month involved members of the construction sector.

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Evidenced by the figures, the sector has also seen a year-on-year drop of 7.5%, with 21.5% of all insolvencies relating to construction firms in February 2013.

The majority of firms were based in Dublin, with 15.1% and 6.5% in Cork and Galway respectively.