Company insolvencies, December 2024
Monthly tables and commentary on the numbers, rates and sectors of companies that have entered formal insolvency procedures in England and Wales, Scotland and Northern Ireland.
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Main messages for England and Wales
Annual summary for 2024
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In 2024, there were 23,872 registered company insolvencies comprising 18,840 creditors’ voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs) and three receivership appointments. The total number of company insolvencies in 2024 was 5% lower than in 2023, which saw the highest annual number since 1993.
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The change in total company insolvency numbers in 2024 was mostly driven by CVLs, which were 8% lower than the record high numbers seen in 2023. The number of compulsory liquidations increased by 14% from 2023 and was at the highest level since 2014. Administrations (up 2%) and CVAs (up 9%) were both higher than in 2023.
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One in 191 companies on the Companies House effective register (at a rate of 52.4 per 10,000 companies) entered insolvency in 2024, a decrease from the 57.2 per 10,000 companies that entered insolvency in 2023. The 2024 insolvency rate is much lower than the peak of 113.1 per 10,000 companies seen during the 2008-09 recession, even though 2023 and 2024 saw similar numbers of insolvencies to 2008 and 2009. This is because the number of companies on the effective register has more than doubled.
Monthly summary for December 2024
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After seasonal adjustment, 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 in the previous year (2,139 in December 2023). 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 December 2024 consisted of 273 compulsory liquidations, 1,421 CVLs, 127 administrations and 17 CVAs. There were no receivership appointments. Compulsory liquidations and CVA numbers were higher than in November 2024, but CVLs and administrations were lower.