There is no doubt that the pandemic era has caused an economic downturn - now evident in the surge in business failures, particularly within the construction sector.

With the pandemic support schemes coming to an end, there is an imminent fear that there will be further downfall impacting already struggling businesses, which will in turn see a rise above pre-pandemic insolvency levels.

The surge in the number of business failures has reached a two and a half year high, with the largest increase in administrations over the past 12 months being within the construction industry, as companies respond to supply shortages and inflation of materials amongst other concerns.