Company Insolvency Statistics, August 2024
Monthly company insolvency statistics for England and Wales, as well as Scotland and Northern Ireland.
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Main messages for England and Wales
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After seasonal adjustment, the number of registered company insolvencies in England and Wales was 1,953 in August 2024, 9% lower than in July 2024 (2,144) and 15% lower than the same month in the previous year (2,286 in August 2023). However, the number of company insolvencies remained much higher than those seen both during the COVID-19 pandemic and between 2014 and 2019.
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Company insolvencies in August 2024 consisted of 279 compulsory liquidations, 1,542 creditors’ voluntary liquidations (CVLs), 112 administrations and 20 company voluntary arrangements (CVAs). All types of company insolvency were lower than in July 2024.
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One in 180 companies on the Companies House effective register (at a rate of 55.5 per 10,000 companies) entered insolvency between 1 September 2023 and 31 August 2024. This was a slight increase from the 55.4 per 10,000 companies that entered insolvency in the 12 months ending 31 August 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.
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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.