Top Service urges suppliers to act early and protect against hidden insolvency risks A construction director who failed to explain nearly £500,000 in company bank transfers—and left creditors facing over £160,000 in losses—has been handed a suspended prison sentence following an investigation by the Insolvency Service. Mario Huiu, former director of Incentive Services Limited, was […]… Continue Reading
Top Service Ltd – Credit Intelligence for Construction The latest insolvency figures are in—and once again, the construction industry is under pressure.In May 2025, 2,238 companies across England and Wales became insolvent: This includes: CVLs now account for 77% of all insolvencies, a clear sign that more businesses are choosing to close voluntarily, often due […]… Continue Reading
Is the construction industry on the brink or are statistics misleading? By Philip King. Since 2021, the construction sector has accounted for almost one in five of all corporate insolvencies. The percentage has ranged between the lowest of 15.1% (November 2024) and the highest of 20.4% (February 2022). The percentage for all corporate insolvencies across […]… Continue Reading
The Deputy Prime Minister has issued a clear and direct message to UK housebuilders: the time for delays is over. Backed by new planning powers and penalties, councils will now be able to hold developers to account to ensure promised homes are actually delivered. Under the government’s Plan for Change, developers will need to commit […]… Continue Reading
The latest insolvency data for April 2025 has just landed – and while there’s a slight dip from last year, signs of strain are still evident, especially in the construction industry. 2,053 companies entered insolvency across England and Wales – a 3% increase from March, but 5% lower than April 2024. While numbers have eased […]… Continue Reading
Administration confirmed: 15th May 2025 At Top Service, our trading experiences tell a story — and when enough chapters are written, our members take action. Here’s how we supported them through the Corbyn Construction collapse: Early Warning Signs Detected Administration Timeline Results for Our Members Top Service were instructed in a third party capacity and […]… Continue Reading
March 2025 saw a slight dip in company insolvencies across England and Wales, but the numbers remain worryingly high—and construction continues to bear the brunt. According to the latest government data, there were 1,992 registered company insolvencies in March 2025, down 2% from February’s 2,032, but still 9% higher than March 2024. Although we’re no […]… Continue Reading
Overview With fraud on the rise across the construction industry, taking proactive steps to protect your business is more important than ever. Opening trade credit accounts comes with an inherent level of risk—not just around payment delays or defaults, but the growing issue of fraudulent activity. At Top Service, we see this risk daily. From […]… Continue Reading
The Bank of England is expected to lower the base interest rate from 4.5% to 4.25% at its meeting on 8 May 2025. This move comes in response to slowing inflation and wider economic challenges. While the rate cut may seem small, it could have a real impact on the construction industry—and for the credit […]… Continue Reading
Background Stuart, a director of new Tech Roofing Limited, reached out for support regarding an outstanding debt totaling £120,309.00, with the oldest invoice date being November 2024 and was 79 days overdue, when passed to Top Service. He had been introduced to our services by another satisfied member and was frustrated by the non-payment from […]… Continue Reading
