A couple of months ago I included information on the site about the increase in business failures in our industry. The Double Glazing Forum website has now added August and September data from the London Gazette for companies ceasing trading from our industry.
It’s not good news, and if you compare with August and September of last year, it doesn’t bode well for the coming months:
In both August and September there are names on the list that were very familiar to me and that I was unaware had gone bust (although, they may still be trading unfortunately).
If you think back to August and September of last year with all the news in the press you would have imagined that the world was coming to an end, yet according to the Double Glazing Forum only 94 companies ceased trading. In comparison, the market seems far more buoyant now with more positive spin in both the national media and trade media, yet in August and September this year 409 companies have gone bust. That’s more than four times the amount of business failures!
Assuming the information on this website is correct (and I have no reason to doubt that it isn’t), it seems there is some sort of lag between an economic downturn, and business failures. If this trend were to continue then the natural peak for bankruptcies in our industry over the winter period could be at unprecedented levels.
But, if this has got you all depressed, don’t worry. At least we aren’t these people!
