Company insolvency statistics - August 2024

The August 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 – August 2024

After seasonal adjustment there were 1,953 company insolvencies in August 2024. This was 9% lower than in July 2024, but 15% higher than the number in August 2023.

In August 2024 there were:

1,823 creditors’ voluntary liquidations (CVLs)
279 compulsory liquidations
112 administrations
20 company voluntary arrangements (CVAs)
0 receiverships

CVLs

In August 2024, CVLs accounted for 79% of all company insolvencies. The number of CVLs was 7% lower than July 2024 and 15% lower than August 2023, after seasonal adjustment.

Compulsory liquidations

The number of compulsory liquidations was 12% lower than in July 2024, but 6% higher than in August 2023 after seasonally adjustment.

Administrations

The number of administrations was 25% lower than in July 2024 and 40% lower than in August 2023 after seasonally adjustment.

CVAs

The number of CVAs was 20% lower than in July 2024, but 80% higher than in August 2023 after seasonally adjustment.

Receivership appointments

There were no receivership appointments in August 2024. Receivership appointments are now rare with only two in the past 12 months.

Insolvency rate statistics for England and Wales – August 2024

The company liquidation rate in the 12 months to August 2024 was 55.5 per 10,000 companies on the effective register in England and Wales. This corresponds to 1 in 180 companies entering insolvency.

Company insolvencies by industry in England and Wales – August 2024

The three industries (in accordance with SIC 2007) that experienced the highest number of insolvencies in the 12 months to July 2024 were:

construction (4,373 insolvencies, 17% of cases with industry captured)
wholesale and retail trade and repair of vehicles (3,904 insolvencies, 16% of cases with industry captured)
accommodation and food services activities (3,822 insolvencies, 15% of cases with industry captured)

Company insolvency statistics for Scotland – August 2023

The Accountant in Bankruptcy (AiB), Scotland’s Insolvency Service, administers company insolvency in Scotland.

In August 2024 there were 102 company insolvencies, which was 9% lower than the number in August 2023. Of the total company insolvencies in Scotland, there were:

56 CVLs
42 compulsory liquidations
2 administrations
2 receivership appointments
0 CVAs

Historically, compulsory liquidations were the most common type of company insolvency in Scotland. However, since August 2020, numbers of CVLs have remained higher than numbers of compulsory liquidations.

Company insolvency statistics for Northern Ireland – August 2023

In August 2024 there were 11 company insolvencies in Northern Ireland, 8% lower than in August 2023. Of the total company insolvencies, there were:

9 CVLs
1 CVA
1 compulsory liquidation
0 administrations
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.

Enquire now

Next insolvency statistics release

Figures for September 2024 will be released on 18 October 2024.

Find out more

Company Insolvency Statistics August 2024 (GOV.UK)

The Insolvency Service (GOV.UK)

Accountant in Bankruptcy (AiB)

Images

Getty Images

Publication date

23 September 2024