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Construction administrations up 18% at the start of 2014

Construction administrations in Q1 2014 were 18 per cent higher than the same time last year, according to the latest figures from the Department for Business, Innovation and Skills.

The BIS insolvency statistics for the first quarter of the year record 78 administrations in the industry in England and Wales, up from 66 in Q1 2013.

However, in the year to Q1 2014, the number of administrations fell by 18.9 per cent to 244 on the previous year.

Across the whole of 2013, the construction industry saw the highest number of liquidations, at 2,665, though BIS said this was 5.5 per cent down on the 12 months to Q3 2013.

The total comprised 672 compulsory liquidations and 1,933 voluntary liquidations.

The second highest number of liquidations was in the retail and wholesale sector, which along with construction were the only two sectors to top 2,000 liquidations in the period.

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