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Construction insolvencies drop

Fewer construction companies became insolvent in January than in the same month a year earlier, latest data reveals.

But the industry’s insolvency rate was higher than the national average, according to the figures from information services firm Experian.

In the building and construction sector, 205 firms became insolvent in January 2011 – a 5.96 per cent fall on 12 months previously.

But this meant 0.13 per cent of the sector’s companies became insolvent in January. Across all industries, 0.07 per cent of companies – a total of 1,266 - became insolvent, the data shows.

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