Growing fears a rapid spiral in the cost of house building and renovation materials could lead to problems for the construction sector
Hardware and building supply stores are a major source of credit to the building sector, often offering between 30 and 90 days’ credit. Stock image/Getty
Builders’ merchants and hardware store owners are considering cutting “very significant” lines of credit to small and medium builders as prices begin to rise sharply due to the war in the Middle East, a key industry body that represents many of the stores has warned.
There are growing fears in the €4bn sector that a rapid spiral in the cost of house building and renovation materials could lead to problems for the construction sector that could have a domino effect on hardware stores themselves, said Martin Markey, CEO of Hardware Association Ireland.
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