Real estate has become the worst-affected sector for insolvency after making up 35% of total administrations in the second quarter of 2011, according to Insolvency Service figures.
The sector accounted for 243 of the 695 administrations recorded during the quarter and also experienced a 25% quarterly rise in company voluntary arrangements (CVAs) compared to the first quarter of this year.
Despite the quarterly rise, real estate administrations were still down from a peak of 50% of total administrations recorded in the final quarter of last year, while administrations across all sectors fell 11% from the 782 recorded in the first quarter of 2011.
The sector accounted for 243 of the 695 administrations recorded during the quarter and also experienced a 25% quarterly rise in company voluntary arrangements (CVAs) compared to the first quarter of this year.
Despite the quarterly rise, real estate administrations were still down from a peak of 50% of total administrations recorded in the final quarter of last year, while administrations across all sectors fell 11% from the 782 recorded in the first quarter of 2011.
