Builders' merchant insolvencies increase in December 2024

Although the slight rise is disappointing, it’s important to note that the numbers remain relatively low compared to earlier months in 2024.

Leading marketing data specialist, Insight Data, has reported a slight increase in builders' merchant insolvencies for December 2024, with numbers rising from six to seven compared to November 2024.

The latest research reveals that the North West was particularly affected, accounting for nearly half of all reported cases with three out of the seven insolvencies occurring in this region. The Southern Counties also faced challenges, recording two insolvencies, while the remaining cases were spread across the West Midlands and Greater London.

In a more positive development, the data shows a reduction in the number of main contractors, with a turnover above £5million, decreasing from seven to four insolvencies in December 2024.

Alex Tremlett, Commercial Director at Insight Data, said: “While the slight increase in builders’ merchant insolvencies is disappointing, it’s important to note that these numbers remain relatively low compared to earlier months in 2024.

“The geographical data also demonstrates the different pressures builders’ merchants across the country are facing - particularly in the North West which was impacted the most in December.

“It’s encouraging to see fewer large contractors facing insolvency, but we must remain cautious as we start 2025. The construction industry continues to navigate challenging market conditions, making access to accurate market intelligence more crucial than ever.”

The latest findings from Insight Data highlight the value of comprehensive market intelligence data and how it can help businesses identify trends and make informed decisions in an ever-evolving construction landscape.

To access the latest Insight Data Insolvency Report in full, visit: https://www.insightdata.co.uk/insolvency-reports/