Construction and property companies suffered more than a third of the UK’s insolvencies in the autumn, highlighting their exposure to the credit crunch and property slump.

Research by Wilkins Kennedy found that while construction and property services firms employ less than 5% of the UK workforce, they accounted for 34% of corporate insolvencies in September and October. Building and construction was the worst hit sector with 21% of the insolvencies, compared to just 8% in financial services and 5% in retail and wholesale.

The Independent