Company Insolvency Statistics, September 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 1,973 in September 2024, 2% higher than in August 2024 (1,943) and 7% lower than the same month in the previous year (2,130 in September 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 September 2024 consisted of 226 compulsory liquidations, 1,575 creditors’ voluntary liquidations (CVLs), 155 administrations and 17 company voluntary arrangements (CVAs).
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One in 182 companies on the Companies House effective register (at a rate of 55.0 per 10,000 companies) entered insolvency between 1 October 2023 and 30 September 2024. This was a decrease from the 55.8 per 10,000 companies that entered insolvency in the 12 months ending 30 September 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.