Number of company insolvencies rises by 17%

19 Mar 2024

Data published by the Insolvency Service has revealed that the number of company insolvencies in England and Wales rose by 17% in February 2024 when compared to the same month last year.

The number of registered company insolvencies was 2,102 in February, the data showed, compared to 1,801 in February 2023. According to the Insolvency Service, the latest figure is higher than levels seen whilst government Covid-19 business support measures were in place.

The data revealed that the insolvencies consisted of 217 compulsory liquidations, 1,707 creditors' voluntary liquidations, 166 administrations and 12 company voluntary arrangements.

In regard to individual insolvencies, 10,136 were recorded in February 2024, which was 23% higher than in the same month the previous year. The individual insolvencies consisted of 709 bankruptcies, 3,007 debt relief orders (DROs) and 6,420 individual voluntary arrangements (IVAs). 

quickbooks xero Dext sage tide kashflow

Home | Contact us | Accessibility | Disclaimer | Diversity Survey 2023 | Help | Site map |
© 2024 HPH Accountants LLP. All rights reserved.

York Office (Registered office) : HPH Accountants LLP, 54 Bootham, York, YO30 7XZ
Harrogate Office : HPH Accountants LLP, Conyngham Hall Business Centre, Knaresborough, HG5 9AY

Registered in England and Wales, company number: OC376850, trading as HPH.

We use cookies on this website, you can find more information about cookies here.