Deloitte: administrations, receiverships down 6%

Property and construction, one of UK’s most vulnerable industry sectors in
the nine months to September, recorded a 3% decline in administrations on the
previous corresponding period, according to a newly released
survey. Lee Manning, Deloitte reorganisation services partner, said that,
despite media speculation about a housing market downturn, this was not
reflected in insolvencies in the sector.

‘However, it is fair to expect that as credit becomes tighter in the property
market, we may see a ripple effect negatively impacting the industry’s support
service providers,’ he said.

Other key industry findings showed a 28% increase in administrations in
healthcare and social services; up 21% in the financial services; and up 15% in
hospitality & leisure. Manning said these increases were from relatively
small bases and therefore did not give cause for concern.

All regions except the north-west saw a decrease in administrations, the
sharpest drop, at 29%, was in East Anglia; followed by the south-west, down 19%;
and Yorkshire and Humberside, down 14%. The north-west showed a marginal
increase in administrations of 1%.

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