Report by Experian shows insolvencies are 5% down in March compared to last year

Insolvencies in the construction sector were down 5% in March compared with the same period last year.

The figures, released by Experian, show that this March 377 construction companies became insolvent while 398 went under in the same month in 2009.

The Insolvency Indexform report also said that the overall picture for businesses across all sectors was positive, despite a blip between February and March.

It said the rate of insolvencies peaked at 0.13% in March 2009 but that they rose from 0.096% to 0.114% between February and March this year.

Rolf Hickmann, managing director of pH, part of the Experian group, said “Unlike the last recession, when business insolvencies were more than double the rates witnessed during this recession, the business economy has not been admitted to intensive care.”