Some 63 fenestration and associated businesses closed last month, with dual-sourcing accounting for a notable proportion, and all three principal materials PVC, ali and timber all seeing insolvencies.
Hardest hit were the small operators, showing a slight increase over January, while main contractors, builders’ merchants and architects all saw fewer going bust, according to the Insight Data Insolvency Report for the month.
The toll on smaller businesses underscores their vulnerability and the need for targeted support, the report notes.
“The comparison between January and February statistics underscores the enduring challenges faced by companies in the fenestration industry, including economic uncertainties and competitive pressures,” says Insight Data,
“Nevertheless, the data also points to emerging opportunities for growth, as surviving companies can expand their market share and capitalise on unmet demand.
“While the insolvency data underscores the fragility of the fenestration industry, it also presents avenues for growth and resilience. Insight Data remain committed to empowering businesses with the tools needed to overcome challenges and thrive in the competitive landscape of the fenestration industry.
“Despite the turbulent start to 2024, businesses should utilise market intelligence to make informed decisions and strengthen their positions in the industry.”
www.insightdata.co.uk/insolvency-reports/
