What's Happening?
Assent Building Compliance, a major building control firm, has ceased trading and is entering insolvency, impacting thousands of construction projects. The firm, which provided compliance and inspection
services, has left many projects without necessary building certifications. This has caused delays and uncertainty across the construction industry, as businesses scramble to find new inspectors. Assent's collapse affects projects managed by its entities, Oculus Building Consultancy Ltd and LB Building Control Ltd, which were authorized by the Building Safety Regulator to perform building control work.
Why It's Important?
The collapse of Assent Building Compliance has significant implications for the construction industry, potentially delaying thousands of projects and affecting businesses reliant on timely project completion. The lack of building certifications can halt sales and impact revenue streams, particularly for small businesses. The situation underscores the importance of having a robust framework for building control services to prevent such disruptions. The ripple effect of Assent's insolvency highlights vulnerabilities in the construction sector's reliance on a limited number of building control providers.
What's Next?
The construction industry must now address the immediate need for alternative building control providers to resume stalled projects. The Building Safety Regulator is in discussions to mitigate the impact on ongoing services and inspector resources. Businesses affected by the collapse will need to navigate the challenges of finding new inspectors and managing project delays. The situation may prompt a reevaluation of the industry's dependency on a few key players for building control services, potentially leading to regulatory changes or increased competition in the sector.
