Company insolvency statistics - December 2024

The annual and December 2024 company insolvency stats for England and Wales have been published by The Insolvency Service, together with related figures for Scotland and Northern Ireland.

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Company insolvency statistics for England and Wales –2024

After seasonal adjustment there were 23,872 company insolvencies in 2024. This was 5% lower than in 2023, which saw the highest annual number since 1993.

In December 2024 there were:

  • 18,840 creditors’ voluntary liquidations (CVLs)
  • 3,230 compulsory liquidations
  • 1,597 administrations
  • 202 company voluntary arrangements (CVAs)
  • 3 receiverships

CVLs

In 2024, CVLs accounted for 79% of all company insolvencies. The slight decrease in the total number of insolvencies in 2024 was driven by an 8% decrease in the number of CVLs compared to 2023, which saw the highest ever annual total in the time series since records began in 1960.

Compulsory liquidations

Compulsory liquidations were at their highest levels since 2014 with the 2024 annual number being 14% higher than 2023.

Administrations

Administrations in 2024 were 2% higher than in 2023.

CVAs

CVAs in 2024 were 9% higher than in 2023. CVA numbers remained below levels seen before the COVID-19 pandemic.

Receivership appointments

Receivership appointments are now rare - there were three in 2024.

Company insolvency statistics for England and Wales – December 2024

After seasonal adjustment there were 1,838 company insolvencies in December 2024. This was 6% lower than in November 2024 and 14% lower than the number in December 2023.

In December 2024 there were:

  • 1,421 creditors’ voluntary liquidations (CVLs)
  • 273 compulsory liquidations
  • 127 administrations
  • 17 company voluntary arrangements (CVAs)
  • 0 receiverships

CVLs

In December 2024, CVLs accounted for 77% of all company insolvencies. The number of CVLs was 8% lower than November 2024 and 22% lower than December 2023, after seasonal adjustment.

Compulsory liquidations

The number of compulsory liquidations was 4% higher than in November 2024 and 53% higher than in December 2023 after seasonally adjustment.

Administrations

The number of administrations was 5% lower than in November 2024 and 5% higher than in December 2023 after seasonally adjustment.

CVAs

The number of CVAs was 13% higher than in November 2024 and 21% higher than in December 2023 after seasonally adjustment.

Receivership appointments

There were no receivership appointments in December 2024. Receivership appointments are now rare - there were three in 2024.

Insolvency rate statistics for England and Wales – 2024

The company liquidation rate in 2024 was 52.4 per 10,000 companies on the effective register in England and Wales. This corresponds to 1 in 191 companies entering insolvency.

Company insolvencies by industry in England and Wales – December 2024

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

  • construction (4,102 insolvencies, 17% of cases with industry captured)
  • wholesale and retail trade; repair of motor vehicles and motorcycles (3,618 insolvencies, 15% of cases with industry captured)
  • accommodation and food service activities (3,555 insolvencies, 15% of cases with industry captured)

Company insolvency statistics for Scotland – December 2023

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

The annual number of insolvencies in Scotland in 2024 (1,236) was similar to 2023 (1,234).

In December 2024 there were 82 company insolvencies, which was 24% lower than the number in December 2023. Of the total company insolvencies in Scotland, there were:

  • 52 CVLs
  • 27 compulsory liquidations
  • 3 administrations
  • 0 receivership appointments
  • 0 CVAs

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

Company insolvency statistics for Northern Ireland – December 2024

The annual number of insolvencies in Northern Ireland in 2024 was 305, a 40% increase from 2023.

In December 2024 there were 23 company insolvencies in Northern Ireland, 4% lower than in December 2023. Of the total company insolvencies, there were:

  • 17 CVLs
  • 4 compulsory liquidations
  • 1 CVA
  • 1 administration
  • 0 receivership appointments

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 January 2025 will be released on 18 February 2025.

See also

Individual insolvency statistics – December 2024

Company insolvency statistics - November 2024

Find out more

Company Insolvency Statistics December 2024 (GOV.UK)

The Insolvency Service (GOV.UK)

Accountant in Bankruptcy (AiB)

Images

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Publication date

23 January 2025