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Construction firms 'could need company debt advice in 2011'

Date Added: 23/12/2010  

The coming 12 months is expected to see an increase in the number of construction firms struggling financially, with some potentially needing to take company debt advice as a result.

This is the opinion of Greg Pitcher, deputy news editor at Construction News, who stated that most experts in the sector agree that 2011 is going to be a tough year for the industry.

But he declared that it is not all doom and gloom for those construction firms which are already taking company debt advice, adding that there are some bright spots.

"The office sector is beginning to grow and the industrial sector is growing. There is quite a lot of rail work. It is a mixed picture," he said.

But he accepted that many organisations working in construction are going to be forced to let staff go over the coming months due to a lack of projects.

The Federation of Master Builders claims more than 10,000 construction jobs will go next year.

Posted by Miles Pritchard 

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