Construction Firms Face Bankruptcy Because of Coronavirus Pandemic

The construction industry has undergone a challenging period since the government announced Covid-19 lockdown measures on 23 March. Financial pressures remain an existential threat to some companies, which could yet face bankruptcy, and construction workers continue to balance risking their safety with the financial implications of staying at home.

With six weeks passed since lockdown measures were introduced, we investigate how the construction industry is faring in the wake of the coronavirus, and what the implications of the pandemic could mean for its survival. 

Financial Pressure

The coronavirus pandemic has still plunged construction activity to its lowest level in 11 years, the recent construction Purchasing Managers’ Index (PMI) revealed. 

Around three quarters of on-site residential projects have reportedly halted because of the coronavirus pandemic, and there are legitimate concerns that local homebuilding firms risk going bankrupt.

Worrying statistics from the Federation of Master Builders (FMB) reveal that 31% of small to medium-sized (SME) housebuilders have new homes standing empty due to customers pulling out or delaying purchases.

This equates to, on average, seven homes per company standing empty with a cost of £629 per month in empty homes council tax.

Moreover, the FMB reports that these SME firms are not

Tighten a Loose Newel Post

Steps for Tightening a Newel Post:

  1. Start by identifying structural parts of the stair that could be used to attach additional fasteners from the railing to the stairs. The stringer is usually at least an inch thick on the edges of the stairs. Look for nail holes in the treads to help find it.
  2. Plumb up the newel post by holding a level up to the side. Once it’s in the correct position, use a 2×4 or other piece of scrap wood against the wall and the post to hold it in that position. Place a few shims both on the wall and on the post in between the board to prevent it from scratching or damaging either surface.
  3. Measure and mark the location for the screws, ensuring that they will hit the stringer when screwed in.
  4. Drill into the post from the front using a forstner bit a few inches in to act as a countersink to hide the head of the screw. Nathan recommends measuring and marking the desired depth ahead of time with a little bit of painter’s tape on the drill so it’s easier to determine when to stop drilling.
  5. Using the 3/16” drill bit, drill