Company Insolvency Statistics, June 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 in June 2024 was 2,361, 16% higher than in May 2024 (2,040) and 17% higher than the same month in the previous year (2,016 in June 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 June 2024 consisted of 302 compulsory liquidations, 1,866 creditors’ voluntary liquidations (CVLs), 170 administrations and 23 company voluntary arrangements (CVAs). All types of company insolvency were higher than in both June 2023 and May 2024.
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One in 179 companies on the Companies House effective register (at a rate of 55.8 per 10,000 companies) entered insolvency between 1 July 2023 and 30 June 2024. This was an increase from the 55.1 per 10,000 companies that entered insolvency in the 12 months ending 30 June 2023. These 12-month rolling rates are calculated as a proportion of the total number of companies on the effective register to show longer term trends and reduce the volatility that would be 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.