The number of registered company insolvencies in England and Wales was 1,973 in September 2024, 2% higher than in August 2024 (1,943) according to new figures from the Insolvency Service.

Voluntary liquidations made up 80 per cent of all insolvencies in September. Compulsory liquidations, which only make up a small portion of insolvencies, were down 18 per cent month-on-month and 13 per cent year-on-year. Still, the number of compulsory closures remained ahead of 2019 levels.
In total, company insolvencies in September 2024 consisted of 226 compulsory liquidations, 1,575 creditors’ voluntary liquidations (CVLs), 155 administrations and 17 company voluntary arrangements (CVAs).
The Insolvency Services noted that monthly insolvency numbers so far in 2024 have been similar to 2023, which saw the highest annual number of insolvencies since 1993.
The construction industry experienced the highest number of insolvencies, followed by wholesale and retail trade, accommodation and food services, administrative support services, and manufacturing.