Insolvency to rival inflation as project cost threat

The spectre of increased insolvency may soon rival materials and labour inflation as the main threat to successful project delivery.
Construction insolvencies have risen by 72% year-on-year, according to to cost consultant Turner & Townsend.
And the consultancy said it is now advising clients to take a pragmatic approach to project and programme delivery to help tackle both inflationary and insolvency threats.
Contractors that were at risk of insolvency before Covid struck now look increasin