Company insolvency statistics - September 2024
The September 2024 company insolvency stats for England and Wales have been published by The Insolvency Service, together with related figures for Scotland and Northern Ireland.
Company insolvency statistics for England and Wales – September 2024
After seasonal adjustment there were 1,973 company insolvencies in September 2024. This was 2% higher than in August 2024, but 7% lower than the number in September 2023.
In September 2024 there were:
- 1,575 creditors’ voluntary liquidations (CVLs)
- 226 compulsory liquidations
- 155 administrations
- 17 company voluntary arrangements (CVAs)
- 0 receiverships
CVLs
In September 2024, CVLs accounted for 80% of all company insolvencies. The number of CVLs was 2% higher than August 2024, but 9% lower than September 2023, after seasonal adjustment.
Compulsory liquidations
The number of compulsory liquidations was 18% lower than in August 2024 and 13% lower than in September 2023 after seasonally adjustment.
Administrations
The number of administrations was 40% higher than in August 2024 and 19% higher than in September 2023 after seasonally adjustment.
CVAs
The number of CVAs was 15% lower than in August 2024, but 55% higher than in September 2023 after seasonally adjustment.
Receivership appointments
There were no receivership appointments in September 2024. Receivership appointments are now rare with only two in the past 12 months.
Insolvency rate statistics for England and Wales – September 2024
The company liquidation rate in the 12 months to September 2024 was 55.0 per 10,000 companies on the effective register in England and Wales. This corresponds to 1 in 182 companies entering insolvency.
Company insolvencies by industry in England and Wales – September 2024
The three industries (in accordance with SIC 2007) that experienced the highest number of insolvencies in the 12 months to August 2024 were:
- construction (4,310 insolvencies, 17% of cases with industry captured)
- wholesale and retail trade and repair of vehicles (3,814 insolvencies, 15% of cases with industry captured)
- accommodation and food services activities (3,712 insolvencies, 15% of cases with industry captured)
Company insolvency statistics for Scotland – September 2023
The Accountant in Bankruptcy (AiB), Scotland’s Insolvency Service, administers company insolvency in Scotland.
In September 2024 there were 73 company insolvencies, which was 16% lower than the number in September 2023. Of the total company insolvencies in Scotland, there were:
- 48 CVLs
- 18 compulsory liquidations
- 7 administrations
- 0 CVAs
- 0 receivership appointments
Historically, compulsory liquidations were the most common type of company insolvency in Scotland. However, since September 2020, numbers of CVLs have remained higher than numbers of compulsory liquidations.
Company insolvency statistics for Northern Ireland – September 2023
In September 2024 there were 28 company insolvencies in Northern Ireland, 24% lower than in September 2023. Of the total company insolvencies, there were:
- 15 compulsory liquidation
- 10 CVLs
- 2 administrations
- 1 CVA
- 0 administrative receiverships
Please note, the figures for Northern Ireland are not seasonally-adjusted.
Where can I see insolvency notices in The Gazette?
The Gazette is the primary source of both corporate insolvency and personal insolvency information in the UK and publishes this information in the form of insolvency notices, allowing transparency for the public, the credit industry and concerned individuals to quantify risk and inform creditors. You can view all corporate and personal insolvency notices on The Gazette website.
The Gazette also provides a Data Service which provides timely official company, insolvency and deceased estates information to aid data driven decision-making. As the UK’s official public record, our authorised data can help your business with:
- KYC/due diligence
- risk management
- regulatory compliance
- business development
- business intelligence and strategy
For more information on The Gazette Data Service, contact the team on 01603 985949, email data@thegazette.co.uk or click on the link below.
Next insolvency statistics release
Figures for October 2024 will be released on 19 November 2024.
See also
Individual insolvency statistics – September 2024
Company insolvency statistics - August 2024
Find out more
Company Insolvency Statistics September 2024 (GOV.UK)
The Insolvency Service (GOV.UK)
Accountant in Bankruptcy (AiB)
Images
Getty Images
Publication date
18 October 2024