Coronavirus: construction firms fear more bankruptcies lie ahead

Coronavirus: construction firms fear more bankruptcies lie ahead
© Belga

About half of all construction firms (54%) have, for now, few or no contacts that could lead to new contracts, according to a poll conducted by Belgium’s construction association.

According to the survey, 23% of the 350 companies polled fear they may have to dismiss staff by late Autumn, while 9% expect to go bankrupt by the end of the year if there is no improvement.

“We need a specific recovery plan for our sector,” says Robert de Mûelenaere, head of the construction federation.

“Investment in new construction, renovations, demolition and rebuilding, social housing and public works needs to be encouraged,” he stressed.

“The aim is to restore confidence as fast as possible and create a climate in which individuals, companies and the public authorities can invest in making homes, buildings and infrastructure of all types more sustainable,” de Mûelenaere explains.

At the height of the crisis brought on by the novel Coronavirus, two out of three companies had to close their doors.

The Brussels Times

Latest News

Copyright © 2021 The Brussels Times. All Rights Reserved.