Company insolvencies fall in May

24 June 2024

Issue: 4942 / Categories: News

After seasonal adjustment the number of registered company insolvencies in England and Wales in May 2024 was 2 006 6% lower than in April 2024 (2 144) and 21% lower than the same month in the previous year (2 547 in May 2023 which was the highest monthly number since October 2008) according to statistics from the Insolvency Service. The number of company insolvencies remained much higher than those seen both during the Covid-19 pandemic and between 2014 and 2019.

Company insolvencies in May 2024 consisted of 271 compulsory liquidations 1 590 creditors’ voluntary liquidations (CVLs) 126 administrations and 19 company voluntary arrangements (CVAs). Numbers of CVLs and administrations were lower than in both May 2023 and April 2024 while the number of compulsory liquidations was lower than in May 2023 but higher than in April 2024.

The reduction in...

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