Nearly 3,000 construction firms entered insolvency in 2009, according to figures from accountant Pricewaterhouse Coopers

PwC revealed that 696 firms entered insolvency in the fourth quarter of last year, bringing the total for 2009 to 2,932. This figure is a 33% rise from 2008 (2,204), and more than double the number recorded in 2005 (1,422) (see attached graph).

According to PwC the construction industry accounted for 15% of total insolvencies across all sectors in 2009, with recent high-profile casualties including William Verry Construction, which sunk last summer, and Stockport鈥檚 Multibuild, which is in talks with Balfour Beatty.

Jonathan Hook, construction leader at PwC, said: 鈥淲hile the economic stimulus packages have had some benefit, particularly in the public repairs and maintenance sector, it is clear that tough times for construction industry are not over yet.鈥�

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