Research and Statistics

Looking at the graph below it is clear that insolvencies are on the way up, albiet from a low base. ​ Creditors voluntary liquidations are up quite significantly with 200+ more this month than last.  Other insolvencies are low but recent analysis of June's winding up petitions show that the levels are consistent with the uptick since the beginning of the year. CVAs are very low but we are finding that we can get longer time to pay arrangements with creditors and so avoiding any formal appointment.  HMRC are granting longer periods for companies to pay their tax as long as they are viable and compliant.  Get in touch with us if you are worried about cashflow and want to get an HMRC Payment Plan. ​ There were 2,238 company insolvencies in May 2025, 8% higher than in April 2025 and 15% higher than in May 2024. The increase of 8% compared to April 2025 is less than the average absolute change of 12% between consecutive months over the past three years. May 2025 saw a lower number of compulsory liquidations than April 2025, but a higher number of CVLs. ​​Company insolvencies in May 2025 consisted of 354 compulsory liquidations, 1,734 creditors’ voluntary liquidations (CVLs), 136 administrations and 14 company voluntary arrangements (CVAs). There were no receivership appointments. The number of compulsory liquidations was 7% lower than the 10-year high seen in April 2025, but remained higher than both May 2024 and the 2024 monthly average. The number of CVLs in May 2025 was higher than both April 2025 and the 2024 monthly average. Administrations were higher than in April 2025, while CVAs were lower.   ​​​CVLs 77% of all company insolvencies in May 2025 were CVLs. There were 11% more CVLs than in April 2025 and 13% more than in May 2024, the same month the previous year. For the first time since 2020, the annual total of CVLs decreased in 2024. Following three years of growth, the annual total reached its highest point since recording started in 1960 in 2023. CVLs have been increasing at a rate of about 10% annually between 2017 and 2019, but they dropped to their lowest levels since 2007 during the COVID-19 epidemic.Compulsory liquidations In May 2025, there were 32% more compulsory liquidations than in May 2024 and 31% more than the monthly average for 2024, however they were 7% fewer than the 10-year peak recorded in April 2025. Compulsory liquidations rose 14% in 2024 compared to 2023, reaching their highest levels since 2014. In addition to limitations on the use of statutory demands winding-up petitions (which resulted in compulsory liquidations), this continued an increase from record low levels observed in 2020 and 2021. The first five months of 2025 saw an even greater surge in numbers.Administrations The number of administrations in May 2025 was 28% higher than in April 2025 and 12% higher than in May 2024.Company Voluntary Arrangements (CVA) ​The number of CVAs in May 2025 was 42% lower than in April 2025 and 26% lower than in May 2024. Low numbers relative to history. Low volumes prevent seasonal CVA adjustments. There were 9% more CVAs in 2024 than in 2023 and approximately 80% more than in 2022, which had the lowest yearly total since 1993. Despite this increase, 2024's number was just under 60% of the 2015–2019 average.Receivership Appointments No receiverships were appointed in May 2025. Only four receivership appointments were documented in the year ending May 2025 (see Glossary).​Insolvencies by Industry The five industries (in accordance with SIC 2007) that experienced the highest number of insolvencies in the 12 months to April 2025 were: Construction (4,032, 17% of cases with industry captured), Wholesale and retail trade; repair of motor vehicles and motorcycles (3,615, 15% of cases with industry captured), Accommodation and food service activities (3,369, 14% of cases with industry captured), Administrative and support service activities (2,410, 10% of cases with industry captured), and Manufacturing (1,970, 8% of cases with industry captured). Analysts will be looking closely at staff heavy industries such as Leisure and hospitality for any indications of distress following the hikes in Employers NIC.

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​March 2025 had 1,992 registered company insolvencies in England and Wales, which was 9% more than the same month the year before (1,826 in March 2024) but 2% fewer than February 2025 (2,032). Though they have remained high in comparison to historical levels, company insolvencies over the last 12 months have been marginally lower than in 2023, which saw a 30-year high annual total.In March 2025, there were 295 compulsory liquidations, 1,543 creditors' voluntary liquidations (CVLs), 137 administrations, and 17 company voluntary arrangements (CVAs) among the insolvencies of companies. Compulsory liquidations were greater than March 2024 and the monthly average for 2024, although they were 24% fewer than the 10-year high recorded in February 2025. In March 2025, the number of CVLs was comparable to the monthly average for 2024 and February 2025. Compared to February 2025, there were more administrations and CVAs.From April 1, 2024, to March 31, 2025, one in 188 businesses listed in the Companies House effective register (or 53.1 out of 10,000 businesses) became insolvent. Compared to the 55.8 per 10,000 businesses that went bankrupt in the 12 months ended March 31, 2024, this represented a decline. Insolvency rates are calculated as a percentage of the total number of businesses on the effective register on a 12-month rolling basis. Longer-term patterns are displayed by the 12-month rolling rates, which also lessen the volatility of estimates based on individual months.The insolvency rate has risen from the 2020 and 2021 lows, but it is still much below the 2008–09 recession peak of 113.1 per 10,000 businesses. This is due to the fact that throughout this time, the number of businesses on the effective register has more than doubled. CVLs In March 2025, CVLs accounted for 77% of all company insolvencies. The number of CVLs increased by 1% from February 2025 and was 8% higher compared to the same month last year (March 2024).In 2024, the annual number of CVLs declined for the first time since 2020. This came after three years of increases, peaking in 2023 at the highest annual total since the time series began in 1960. Between 2017 and 2019, CVLs had been rising at approximately 10% per year, but during the COVID-19 pandemic, they fell to their lowest levels since 2007. Compulsory liquidations Compulsory liquidations have increased in recent months. The number in March 2025 was 24% lower than the 10-year high seen in February 2025, but 5% higher than in March 2024 and 9% higher than the 2024 monthly average.In 2024, compulsory liquidations were at the highest levels since 2014, having increased by 14% compared to 2023 volumes. This continued an increase from record low levels seen in 2020 and 2021, while restrictions applied to the use of statutory demands and certain winding-up petitions (leading to compulsory liquidations). Administrations The number of administrations in March 2025 was 17% higher than in February 2025 and 30% higher than in March 2024.In 2024, the number of administrations increased by 2% from 2023 and was slightly higher than annual totals seen between 2015 and 2019. Numbers of administrations have continued to increase since 2022 from an 18-year annual low seen during the COVID-19 pandemic in 2021. CVAs The number of CVAs in March 2025 was 2.4 times as many as in February 2025 and 89% higher than in March 2024. Numbers remain low compared to historical levels. CVAs are not seasonally adjusted due to low volumes. In 2024, the number of CVAs was 9% higher than in 2023 and over 80% higher than in 2022, which saw the lowest ever annual total in the time series going back to 1993. Despite this increase, the number in 2024 was slightly less than 60% of the 2015 to 2019 annual average. Receivership appointments There were no receivership appointments in March 2025. Receivership appointments are now rare, with only three being registered in the past 12 months ending March 2025 (see Glossary for further information). ​Insolvencies by Industry The five industries (in accordance with SIC 2007) that experienced the highest number of insolvencies in the 12 months to February 2025 were:Construction (4,046, 17% of cases with industry captured),Wholesale and retail trade; repair of motor vehicles and motorcycles (3,607, 15% of cases with industry captured),Accommodation and food service activities (3,405, 14% of cases with industry captured),Administrative and support service activities (2,367, 10% of cases with industry captured), andManufacturing (1,974, 8% of cases with industry captured).Analysts will be looking closely at staff heavy industries such as Leisure and hospitality for any indications of distress following the hikes in Employers NIC.

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​After seasonal adjustment, the number of registered company insolvencies in England and Wales was 2,035 in February 2025, 3% higher than in January 2025 (1,978) but 7% lower than the same month in the previous year (2,188 in February 2024). Company insolvencies over the past year have been slightly lower than in 2023, which saw a 30-year high annual number, but have remained high relative to historical levels. Company insolvencies in February 2025 consisted of 393 compulsory liquidations, 1,520 creditors’ voluntary liquidations (CVLs), 115 administrations and 7 company voluntary arrangements (CVAs). There were no receivership appointments. Compulsory liquidations were higher than in January 2025, while CVLs, administrations and CVAs were lower. The (seasonally adjusted) number of compulsory liquidations in February 2025 was the highest monthly number since September 2014.One in 191 companies on the Companies House effective register (at a rate of 52.4 per 10,000 companies) entered insolvency between 1 March 2024 and 28 February 2025. This was a decrease from the 57.6 per 10,000 companies that entered insolvency in the 12 months ending 29 February 2024. Insolvency rates are calculated on a 12-month rolling basis as a proportion of the total number of companies on the effective register. The 12-month rolling rates show longer term trends and reduce the volatility associated with estimates based on single months.CVLsIn February 2025, CVLs accounted for 75% of all company insolvencies. The number of CVLs decreased by 2% from January 2025 and was 13% lower compared to the same month last year (February 2024) after seasonal adjustment.In 2024, the number of CVLs declined for the first time since 2020. This came after three years of increases, peaking in 2023 at the highest annual total since the time series began in 1960. Between 2017 and 2019, CVLs had been rising at approximately 10% per year, but during the COVID-19 pandemic, they fell to their lowest levels since 2007.Compulsory liquidationsSeasonally adjusted compulsory liquidations in February 2025 were 41% higher than in January 2025 and 49% higher than in February 2024. In recent months, compulsory liquidations have escalated. The greatest monthly number since September 2014 was February 2025.Compulsory liquidations rose 14% from 2023 to 2024, the highest amount since 2014. This increased from record lows in 2020 and 2021, despite constraints on statutory demands and winding-up petitions (leading to compulsory liquidations).AdministrationsThe number of administrations in February 2025 was 18% fewer than in January 2025 and 27% lower than in February 2024, after seasonal adjustment.In 2024, administrations rose 2% from 2023 and were slightly higher than 2015–2019 totals. Since 2022, administrations have increased from an 18-year low in 2021 during the COVID-19 epidemic.CVAs​The number of CVAs was 42% lower in February 2025 than February 2024 and 50% lower than in January 2025. Numbers remain low compared to historical levels. CVAs are not seasonally adjusted due to low volumes.In 2024, the number of CVAs was 9% higher than in 2023 and over 80% higher than in 2022, which saw the lowest ever annual total in the time series going back to 1993. Despite this increase, the number in 2024 was slightly less than 60% of the 2015 to 2019 annual average.What is causing the changes?The most common creditor in any insolvency is HMRC.  In the last few months, having held back for many years as companies have recovered from the recent headwinds, HMRC is now losing patience with companies that owe tax.

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After seasonal adjustment, 1,971 companies became insolvent in January 2025, up 6% from December 2024 and 11% from January 2024. After three years, the average absolute change between consecutive months has been 12%.After declining in the early 2000s, company insolvencies soared during the 2008-09 crisis. Government support measures during the COVID-19 epidemic in 2020 and 2021 reduced monthly volumes to their lowest ever. Creditor Voluntary Liquidations (CVL) numbers rose above pre-pandemic levels in 2022, although compulsory liquidations and administrations remained low. CVLs reached a record high and compulsory liquidations matched 2015-19 levels in 2023, bringing insolvency numbers to a 30-year high. The 2024 total was slightly lower than 2023 because CVLs decreased more than other insolvency categories.Figure 2: Company insolvencies during the second half of 2022 have reached 2008-09 recession levels. English and Welsh monthly firm insolvencies by type, January 2000–January 2025, seasonally adjusted.CVLs CVLs represented 78% of company insolvencies in January 2025. CVLs rose 9% from December 2024 and 14% from January 2024 after seasonal adjustment. Compulsory liquidations The seasonally adjusted number of compulsory liquidations in January 2025 was 5% fewer than in December and January 2024. Administrations January 2025 saw 10% more administrations than December 2024 and 9% more than January 2024 following seasonal adjustment. CVAs The number of CVAs decreased by 13% in January 2025 compared to January 2024 and 18% from December 2024. Numbers remain low compared to historical levels. There were 9% more CVAs in 2024 than in 2023 and approximately 80% more than in 2022, which had the lowest yearly total since 1993. Despite this increase, 2024's number was just under 60% of the 2015–2019 average.

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In 2024, there were 23,872 registered company insolvencies, which included 18,840 creditors' voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs), and three receivership appointments. The overall number of corporate insolvencies in 2024 was 5% lower than in 2023, the greatest yearly figure since 1993.The reduction in overall firm insolvency numbers in 2024 was mostly driven by CVLs, which were 8% lower than the record high levels recorded in 2023. The number of obligatory liquidations grew by 14% from 2023, reaching its highest level since 2014. Administrations (increased 2%) and CVAs (up 9%) both exceeded 2023 levels.In 2024, one in every 191 firms on the firms House effective register (at a rate of 52.4 per 10,000 companies) becam insolvent, down from 57.2 per 10,000 in 2023. The 2024 insolvency rate is significantly lower than the peak of 113.1 per 10,000 enterprises experienced during the 2008-09 recession, despite the fact that 2023 and 2024 had comparable levels of insolvencies. This is because the number of businesses on the effective register has more than doubled.​Monthly Summary for December 2024 Following seasonal adjustments, the number of registered company insolvencies in England and Wales was 1,838 in December 2024, 6% lower than in November 2024 (1,962) and 14% lower than the same month the previous year (2,139 in December 2023). The number of corporate insolvencies remained significantly greater than those observed during the COVID-19 epidemic and between 2014 and 2019.Company insolvencies in December 2024 included 273 compulsory liquidations, 1,421 CVLs, 127 administrations, and 17 CVAs. There were no receivership appointments. Compulsory liquidations and CVAs were up from November 2024, while CVLs and administrations were down.There has been much comment lately about the number of increased compulsory liquidations being due to the increased taxes imposed by the government.  However, in our view, given that the overall insolvency rates have decreased, the most likely reason for these compulsory liquidations increase is a "mopping up" of the delinquent companies that have already stopped trading, owe tax, and failed to pay back bounce back and other loans following the pandemic.

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​After seasonal adjustment, the number of registered company insolvencies in England and Wales was 1,966 in November 2024, 13% higher than in October 2024 (1,743) and 12% lower than the same month in the previous year (2,243 in November 2023). The number of company insolvencies remained much higher than those seen both during the COVID-19 pandemic and between 2014 and 2019. ​Company Insolvencies Company insolvencies in November 2024 consisted of 254 compulsory liquidations, 1,565 creditors’ voluntary liquidations (CVLs), 132 administrations, 14 company voluntary arrangements (CVAs) and one receivership appointment. All types of company insolvency except for receivership appointments (which are rare) were higher than in October 2024.One in 189 companies on the Companies House effective register (at a rate of 52.9 per 10,000 companies) entered insolvency between 1 December 2023 and 30 November 2024. This was a decrease from the 57.3 per 10,000 companies that entered insolvency in the 12 months ending 30 November 2023. Insolvency rates are calculated on a 12-month rolling basis as a proportion of the total number of companies on the effective register. The 12-month rolling rates show longer term trends and reduce the volatility associated with estimates based on single months.While the insolvency rate has increased since the lows seen in 2020 and 2021, it remains much lower than the peak of 113.1 per 10,000 companies seen during the 2008-09 recession. This is because the number of companies on the effective register has more than doubled over this period.  CVLs In November 2024, CVLs accounted for 80% of all company insolvencies. The number of CVLs increased by 8% from October 2024 and was 15% lower compared to the same month last year (November 2023) after seasonal adjustment.In 2023, the annual number of CVLs reached its highest level since the start of the time series in 1960, continuing the year-on-year increases seen since 2021. Between 2017 and 2019, CVLs had been rising at approximately 10% per year, but during the COVID-19 pandemic, they fell to their lowest levels since 2007. Compulsory liquidations The seasonally adjusted number of compulsory liquidations in November 2024 was 37% higher than in October 2024 and 6% lower than in November 2023.The number of compulsory liquidations has increased from record low levels seen in 2020 and 2021, while restrictions applied to the use of statutory demands and certain winding-up petitions (leading to compulsory liquidations). In 2023, compulsory liquidations increased by 44% from 2022 but remained 4% lower than 2019 (pre-pandemic levels). Administrations The number of administrations in November 2024 was 36% higher than in October 2024 and 12% higher than in November 2023 after seasonal adjustment.Numbers of administrations increased during 2022 and 2023 from an 18-year annual low seen during the COVID-19 pandemic in 2021. Current levels are similar to those seen between 2015 and 2019. ​Find the full release here.

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The Insolvency Service has just released its Creditors’ Voluntary Liquidation (CVL) Research Report.  The purpose of this report was to ascertain whether the recent reforms in 2017 on the CVL process had, in fact, made the process more efficient and increased the returns to creditors.Analysis was performed on a randomly sampled dataset of 2,717 completed CVLs which started in 2017.Efficiency was assessed through three quantitative measures: time to complete the CVL, associated costs, and recovery rates for creditors.Time: 6% of the sampled cases were ongoing at the time of data collection. The median duration to complete a CVL was 712 days.Cost: The median cost, represented as fees relative to the estate's value, was 163%.Recovery Rate: The median recovery rate for all creditors was 0%, indicating that in many cases, creditors did not receive any return.One might ask why the median was used, as opposed to the mean, in these calculations.  This is mainly because in the random sample there may well be some very large company liquidations that would distort the statistics.Other interesting statistics that come out of the research are as followsMedian Pre appointment fees were £4000 see the chart below that shows total fees. The overall returns to creditors are very poor.  The charts below shows preferential creditors that in most cases will be employees and HMRC (post 2020) and Fixed charge creditors who are in fact the first in line showing virtually nil return​ ​This poor level of return is concerning as one of the liquidator's jobs is to try and liquidate the assets to repay creditors.  However, remember the company in question has gone into liquidation as it is unable to pay its creditors!  Most directors will try and put off the inevitable and borrow against any assets they may have or sell them before they enter liquidation.  The reality is that most companies do not have any liquid assets that can be easily sold to repay creditors.  Often assets of any value are costly to move or have a limited market value.  In addition, the liquidators have to do an investigation into the directors conduct to see if they should be disqualified. In addition, in the name of transparency, they have a duty to keep the creditors informed of the reasons for failure, and why they are not going to get any return.So, if CVLs offer such low returns to creditors there should be an alternative process that insolvency practitioners should be using and directors should be made aware of!Administrations are costly and mainly for larger businesses.  The alternative is of course the use of more informal deals with creditors such as Time to Pay Arrangements (TTPs) and the use of the Company Voluntary Arrangement (CVAs) insolvency rescue mechanism.  These are harder to implement than simply advising the company to liquidate and of course there must be an underlying profitable business there.  But surely there are companies out there that could pay off some of the debts over a time period of say, 3-5 years.  Even if the CVA or TTP lasts only a year or two it is signicantly better than a CVL that on this research gives Nil return to any creditor!  Remember a CVA doesn't even bind the fixed charge (secured creditor).The number of TTPs are not really recorded as there is no formal insolvency but the number of CVAs are and it is very low at some 15 or 20 a month.As a small firm that does the second highest number of CVAs, after Begbies Traynor who are the largest insolvency firm in the UK, we believe they are ridiculously underused.However using CVAs KSA Group has;Distributed £31m to creditors 2009-2022. This excludes secured debts and secured factoring facilities, much of which have been or will be repaid. Repaid £17.9m to HMRC between 2009 and 2023, remember this for the most part when HMRC was an unsecured creditor (2009-2020). That’s taxpayers money. Saved creditors money. Preserved 320 customers for thousands for suppliers, accountants and professional advisors.Ultimately, the main thing that should come out of this research is that Directors should act early and not bury their heads in the sand.  Also insolvency pratitioners should not be afraid of exploring other options for distressed businesses such as TTPs or CVAs.

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The October monthly insolvency statistics have been released. Company Insolvencies After seasonal adjustment, there were 1,747 company insolvencies in October 2024, 10% lower than in September 2024 and 24% lower than in October 2023. The decrease of 10% compared to September 2024 is less than the average absolute change of 12% between consecutive months over the past three years. Average monthly numbers so far in 2024 have been similar to 2023, which saw the highest annual number since 1993.Company insolvencies peaked during the 2008-09 recession, following the gradual decline seen over the early 2000s. Volumes rose during 2018 and 2019, before falling to the lowest monthly volumes on record during the COVID-19 pandemic. Company insolvencies then increased during 2021 and 2022, with 2023 seeing the highest annual number of company insolvencies since 1993. CVLs In October 2024, CVLs accounted for 83% of all company insolvencies. The number of CVLs decreased by 7% from September 2024 and was 24% lower compared to the same month last year (October 2023) after seasonal adjustment.In 2023, the annual number of CVLs reached its highest level since the start of the time series in 1960, continuing the year-on-year increases seen since 2021. Between 2017 and 2019, CVLs had been rising at approximately 10% per year, but during the COVID-19 pandemic, they fell to their lowest levels since 2007. Compulsory liquidations The seasonally adjusted number of compulsory liquidations in October 2024 was 14% lower than in September 2024 and 20% lower than in October 2023.The number of compulsory liquidations has increased from record low levels seen in 2020 and 2021, while restrictions applied to the use of statutory demands and certain winding-up petitions (leading to compulsory liquidations). In 2023, compulsory liquidations increased by 44% from 2022 but remained 4% lower than 2019 (pre-pandemic levels). Administrations The number of administrations in October 2024 was 35% lower than in September 2024 and 28% lower than in October 2023 after seasonal adjustment.Numbers of administrations increased during 2022 and 2023 from an 18-year annual low seen during the COVID-19 pandemic in 2021. Current levels are similar to those seen between 2015 and 2019. ​Find the full release here.

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The September monthly insolvency statistics have been released. Company Insolvencies Statistics report that in September 2024 there was a total of 1,973 registered company insolvencies in England and Wales, a 7% decrease compared to September 2023, yet a 2% increase compared to August 2024.Administrations and CVLs saw an increase  compared to last month, but for CVAs and Compulsory Liquidatio there was a decrese.Overall, creditors’ voluntary liquidations (CVLs) remained the most common tool used, comprising 80% of cases.No moratoriums or restructuring plans were registered at Companies House through September 2024.In the 12 months to date, the company liquidation rates was 55 per 10,000 companies on the effective register in England and Wales. This relates to 1 in 182 companies entering insolvency. This rate has remained pretty stable when comparing to the last few months.When exploring company insolvencies by industry, the majority of industries saw an increase in company insolvencies in the 12 months to 31 August 2024.  Notable changes are for Accommodation and Food Service and Information Technology.Scotland and Northern Ireland both saw a decrease in insolvencies in September 2024, being 16% and 24% respectively, compared to September 2023.Find the full release here.

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The August monthly insolvency statistics have been released. Here we share an overview. Company Insolvencies Statistics report that August 2024 showed a total of 1,953 registered company insolvencies in England and Wales, a 15% decrease compared to August 2023. Despite a decrease, these figures are still higher than the number of company insolvencies seen during the COVID-19 pandemic and between 2014-2019.Administrations, Compulsory Liquidations and CVLs faced a decrease in usage in August 2024. Company Voluntary Arrangements (CVAs) were the only insolvency tool to experience an increase, that being an 82% increase compared to August 2023 levels.Nonetheless, creditors’ voluntary liquidations (CVLs) remained the most common tool used, comprising 79% of cases.Registered at Companies House through August 2024, there was just one restructuring plan and two moratoriums.Scotland and Northern Ireland both saw a decrease in insolvencies in August 2024, being 9% and 8% respectively, compared to August 2023.With CVAs on the rise is is hopeful that of the many companies which are facing financial struggles, a rescue is on the cards and trading can continue.Find the full release here.

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The July monthly insolvency statistics have been released. Here we provide a summary overview. Company Insolvencies The July 2024 company insolvency statistics for England and Wales showed a total of 2,191 insolvencies, a 16% increase compared to July 2023.Creditors’ voluntary liquidations (CVLs) remained the most common, comprising 77% of cases.Compulsory liquidations also saw a rise, reaching their highest level since 2018. Sectors such as construction and retail were notably impacted.Scotland saw a 21% year-on-year increase in insolvencies, while Northern Ireland’s figures remained stable. The overall trend indicates a gradual increase in insolvency cases across the UK.Just 25 companies were rescued by using Company Voluntary Arrangements (CVAs) in July.  This is unfortunate as surely it is possible that some of the 1000s of companies that went insolvent last month some might have been able to survive by using a CVA? CVLs The number of CVLs decreased by 9% from June 2024 but was 15% higher than during the same month last year (July 2023), after seasonal adjustment. Compulsory Liquidations The number of seasonally adjusted compulsory liquidations in July 2024 was the highest monthly number since August 2018, 5% higher than in June 2024 and 27% higher than in July 2023.In 2023, there were 44% more compulsory liquidations than in 2022, but they were still 4% fewer than in 2019 (before to the pandemic). The numbers have risen from the all-time lows observed in 2020 and 2021, when limitations were placed on the use of winding-up petitions and statutory demands, which resulted in compulsory liquidations. Administrations The number of administrations in July 2024 was 10% lower than in June 2024 but 6% higher than in July 2023, after seasonal adjustment.High profile administrations have been few and far between these last few months with Carpetright being the most noteable exception.It does seem that In the 12 months to June 2024 compared to the previous 12-month period, insolvencies increased by the most in the hospitality sector.  The increase was c.15%This is not surprising given that this includes the period of high inflation in the last half of last year.

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The second monthly insolvency statistics have been released for 2024, focusing on February. Here we provide a detailed overview. Company Insolvencies February 2024 saw 2,102 registered company insolvencies through England and Wales. This is an increase of 17% when compared to the amount registered in the same month of 2023. It is also higher compared to January 2024 figures and that when Government support measures were in place in response to the COVID-19 pandemic.The company insolvencies for February 2024 consisted of:1,707 Creditors Voluntary Liquidations (CVLs) – 12% higher than in February 2023 217 Compulsory Liquidations – 35% higher than in February 2023 166 Administrations – 54% higher than in February 2023 12 Company Voluntary Arrangements (CVAs) – identical to the amount in February 2023There were no receiverships registered.A higher number of Compulsory Liquidations, CVLs and Administrations seem to be the driving force of the increase in company insolvency statistics compared to February 2023.It is important to note that now, company insolvency numbers have returned to and exceeded pre-pandemic levels.Between 26 June 2020 and 29 February 2024, 52 moratoriums were obtained in England & Wales, along with 22 companies having a restructuring plan registered at Companies House.Moving on to the statistics for Scotland and February 2024 saw 94 registered company insolvencies – quite similar to the levels noted in January 2024. Compared to February 2023 figures, the same month of 2024 saw an increase of 9% in registered company insolvencies. February 2024 figures are made up of 58 CVLs, 33 compulsory liquidations and 3 administrations. No CVAs or receiverships were recorded.Historically, compulsory liquidations have led the way for the company insolvencies in Scotland. But since April 2020, CVL numbers remained higher than compulsory liquidation numbers.Between 26 June 2020 and 29 February 2024, no moratoriums were obtained for companies in Scotland. Two companies did register a restructuring plan at Companies House.For Northern Ireland, 26 company insolvencies were registered in February 2024 – this being twice as many as recorded in February 2024. Registrations consisted of 14 compulsory liquidations, 9 CVLs, 3 administrations. No receiverships or CVAs were recorded for this period. Individual Insolvencies England and Wales had 10,136 Individual Insolvencies registered in February 2024. This is 23% more than what was registered in February 2023 and also a significant rise compared to January 2024. It is thought that the reason for the increase is the all tools; DROs, bankruptcies and IVAs, saw an increase in this period.Delving deeper, the registrations are broken up into:3,007 Debt Relief Orders (DROs) – 44% higher than in February 2023 6,420 Individual Voluntary Arrangements (IVAs) – 16% higher than in February 2023 – an unusually high amount due to some IVAs being registered only now, but approved 2 or more months earlier 709 Bankruptcies (split as 594 debtor applications and 115 creditor petitions) – 16% higher than in February 2023Northern Ireland had 112 Individual Insolvencies registered in February 2024 – identical to the amount noted in January 2024. Numbers are made up of 90 IVAs, 11 DROs and 21 bankruptcies. Total numbers are 13% lower than the same month a year previous. Comparing to pre-pandemic levels, since March 2020, levels of individual insolvencies have been lower in Northern Ireland.You can refer to the full report here.

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