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​Fears more firms will go bust after latest figures show 25% rise in number going under

By 2022-01-24T07:00:00

insolvent

Rising cost of labour and materials, contractors tied to fixed-price jobs and end of covid support all blamed for hike

The industry has been warned to expect more firms to go bust after the latest official figures showed the number of contractors going under has gone up by a quarter.

Data from the Insolvency Service said the amount of firms in the industry failing had risen 25% between October and November last year with 325 businesses going bust during the period.

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