Company Insolvency Statistics, July 2024
Monthly company insolvency statistics for England and Wales, as well as Scotland and Northern Ireland.
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Main messages for England and Wales
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After seasonal adjustment, the number of registered company insolvencies in England and Wales in July 2024 was 2,191, 7% lower than in June 2024 (2,363) but 16% higher than the same month in the previous year (1,890 in July 2023). The number of company insolvencies remained much higher than those seen both during the COVID-19 pandemic and between 2014 and 2019.
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Company insolvencies in July 2024 consisted of 320 compulsory liquidations, the highest monthly number since before the COVID-19 pandemic, 1,691 creditors’ voluntary liquidations (CVLs), 155 administrations and 25 company voluntary arrangements (CVAs). All types of company insolvency were higher than in July 2023.
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One in 177 companies on the Companies House effective register (at a rate of 56.6 per 10,000 companies) entered insolvency between 1 August 2023 and 31 July 2024. This was an increase from the 54.7 per 10,000 companies that entered insolvency in the 12 months ending 31 July 2023. These rates are calculated on a 12-month rolling basis as a proportion of the total number of companies on the effective register. The 12-month rolling rates show longer term trends and reduce the volatility associated with estimates based on single months.
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While the insolvency rate has increased since the lows seen in 2020 and 2021, it remains much lower than the peak of 113.1 per 10,000 companies seen during the 2008-09 recession. This is because the number of companies on the effective register has more than doubled over this period.