Call 020 7794 5757 - Email info@numerallp.com

Number of company insolvencies rises by 17%

Data published by the Insolvency Service has revealed that the number of company insolvencies in England and Wales rose by 17% in February 2024 when compared to the same month last year.

19 Mar 2024

Data published by the Insolvency Service has revealed that the number of company insolvencies in England and Wales rose by 17% in February 2024 when compared to the same month last year.

The number of registered company insolvencies was 2,102 in February, the data showed, compared to 1,801 in February 2023. According to the Insolvency Service, the latest figure is higher than levels seen whilst government Covid-19 business support measures were in place.

The data revealed that the insolvencies consisted of 217 compulsory liquidations, 1,707 creditors' voluntary liquidations, 166 administrations and 12 company voluntary arrangements.

In regard to individual insolvencies, 10,136 were recorded in February 2024, which was 23% higher than in the same month the previous year. The individual insolvencies consisted of 709 bankruptcies, 3,007 debt relief orders (DROs) and 6,420 individual voluntary arrangements (IVAs). 

Newsletter sign-up

Why not register to receive our Monthly Newswire?

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Sign-up today

Try a site search Tax return, dividends, pension, autumn statement...

Company details

020 7794 5757

Numera, 4th Floor Charles House, 108-110 Finchley Road, London NW3 5JJ

Numera is a trading name of Numera Partners LLP | Company Registration No. OC365787 | Place of Registration: England & Wales | Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.

About us

Numera is a newly established forward-thinking firm of chartered accountants, with over 25 years in experience of audit, accountancy, taxation and business advisory services.

We work with clients in a large variety of industries and sectors; from sole traders to multi-million pound turnover organisations. We aim to create and maintain a close relationship with our clients. By being so involved, we are able to identify opportunities for our clients as well as possible risks that our clients may be faced with.

© 2024 Numera. All rights reserved. We use cookies on this website, you can find more information about cookies here.