Number of company insolvencies jumps in June

The number of registered company insolvencies jumped up in June by 16 percent compared to May 2024, remaining much higher than figures reported during the pandemic.

In England and Wales, a total of 2,361 insolvencies had been registered, according to the UK Gov website, up 17 percent on the same month in the previous year, when 2,016 insolvencies had been recorded.

Of those disclosed, 302 were compulsory liquidations, 1,866 were creditors’ voluntary liquidations (CVLs), 170 were administrations and 23 were company voluntary arrangements (CVAs).

Following construction, wholesale and retail came second in the ranking of company insolvencies by industry, for which 3,811 filings represented 16 percent of overall cases spanning June 2023 to May 2024.

Scotland’s figures, however, contrasted that of England and Wales, with just 109 company insolvencies registered in the region for June, 4 percent lower than the same month in the year prior.

For Northern Ireland, meanwhile, there were 17 reported company insolvencies, up 17 percent from June 2023.