Construction and engineering firms have topped new voluntary liquidation figures.
The report suggests there are been an acute rise in the number of business going into voluntary liquidation during the last six months.
In the first half of 2008 over 300 firms closed down, producing a 76% increase on last year's figures.
The majority of these firms operated within the construction and engineering sectors.
This year has already surpassed 2007's figures.
The number of businesses wound up, at the half way mark of 2008, is equal to the total for the entire previous 12 months.
Of the 312 liquidated firms 130 operated in the construction and engineering industry.
The statistics, which were complied by Farrell Grant Sparks, show small developers and sub contractors made up most of these failures.
Almost half of the companies that failed were based in Dublin.
The hospitality sector also sustained a high level of business liquidations. Around 42 pubs, restaurants and suppliers to the industry collapsed.
Rising fuel costs have been attributed to the failure of 12 transport and haulage firms so far this year.
(PR/JM)
Time and date
CONSTRUCTION DIRECTORY
Latest Construction News
03/05/2024
Construction work has commenced on a new £9 million build at Rowandale Integrated Primary School in Moira. Funding from the Fresh Start Programme will facilitate the establishment of a new, modern primary school, with 14 classrooms and a nursery unit capable of accommodating over 340 ...
03/05/2024
Minister for Agriculture, Food and the Marine, Charlie McConalogue T.D. together with Leas Chathaoirleach of Donegal County Council, Cllr Gerry McMonagle, has opened the Greencastle Harbour Breakwater. The 270-metre Breakwater aims to improve the protection of vessels in the harbour against wave ...
03/05/2024
NI Water has initiated a £3.5 million improvement programme at Newcastle Wastewater Treatment Works (WwTW). Murphy Dawson Wam JV is undertaking the project, which focuses on improving the three-stage treatment process at the current facility. This will entail installing new filtration gear and a ...
03/05/2024
Bennett Construction has announced that it has achieved Practical Completion (PC) on the Tristan Square Development in Chapelizod, Dublin. The project includes the construction of 180 social and affordable apartments split in to one, two and three bed homes over three blocks. Each of the units are ...
03/05/2024
SSE Renewables and FuturEnergy Ireland have revealed that Microsoft has committed to a lengthy Corporate Power Purchase Agreement (CPPA) with the co-developers. This agreement will inject 30MW of wind energy into Ireland's power grid through the recently launched Lenalea Wind Farm, located near ...
03/05/2024
Farrans has announced that it has collected three awards, including one Gold, at the Considerate Constructor Scheme's National Awards. The CCS National Awards honour outstanding sites, organisations and people who show exceptional commitment to the Code of Considerate Practice in Community, ...
03/05/2024
County Down headquartered GRAHAM has started construction work on a new £59 million low-carbon development in Edinburgh. The Burnet Point scheme in Abbey Lane which combines student flats, build-to-rent and affordable homes is the first-ever mixed-use residential development of its kind by Unite ...
03/05/2024
Alliance's Housing spokesperson, Kellie Armstrong MLA, has welcomed the NI Federation of Housing Associations (NIFHA) commitment to reduce carbon emissions in social homes and combat climate change. Housing associations are currently in the process of developing a scheme set to launch this autumn. ...
03/05/2024
Fibrus has announced that it has exceeded its 80,000 customer milestone, as it gains over 50,000 customers in just one year. The broadband provider burst on to the scene to transform the digital infrastructure of rural and regional areas of Northern Ireland and has shaken up the market due to its ...
03/05/2024
Infrastructure Minister, John O'Dowd, has announced his support for the 'No Mow May' approach to help promote biodiversity on the roadside during this month. The Department for Infrastructure oversees the maintenance of 45,000km of grass verges along the road network. In recent years, it has been ...