Construction firms challenged as business shrinks, cashflow hit
Razor-thin margins appear to be Achilles heel; but new legal developments hold out hope for smaller companies facing insolvency
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THE beleaguered oil and gas industry has barely started to climb out of the hole when another major business sector - construction - is headed for dark times, with increasing liquidations and collapses.
Backed into a corner by a shrinking market and cashflow gap, at least 20 construction and engineering firms were involved in winding up applications in the third quarter (July to September) alone, according to a count by The Business Times.
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