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Real estate bankruptcies rise in England, Deloitte report says

Posted on 05 October 2011

The number of real-estate and construction companies seeking bankruptcy in England and Wales rose by 11 percent in the third quarter as budget cuts and economic uncertainty led to canceled projects, Deloitte LLP said.
A total of 117 property companies and builders went into administration in the period, up from 105 a year earlier, Deloitte said today in a research report. The industries are unlikely to improve in the next quarter and medium-sized firms will be hurt more than larger contractors, the U.K. affiliate of Deloitte Touche Tohmatsu said……………………………………….Full Article: Source


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