Contract breaches and getting paid: What action can you take?

It was one of the industries that was booming following the relaxation of COVID-19 restrictions, but recently, the construction sector has been hit with multiple challenges – leaving many businesses across the country fearing collapse.

Contributing factors include price rises for materials, as well as labour and material shortages. These, combined with tight margins and deliverable dates, puts the industry at risk of overtrading.

And with the end of furlough and a release of the current restrictions on creditor action, we could start seeing businesses in the construction sector going insolvent.

In the third part of this five-part webinar series specifically designed for the construction industry, we explored the preventative measures businesses can take to minimise their risk of insolvency, as well as talking through the process should a business find itself in a vulnerable situation. We also explored: