Company insolvencies rise across England and Wales
A worrying rise in companies collapsing last month shows that many UK firms are in a “perilous” position as 2024 draws to an end.
New data from the Insolvency Service this morning shows there was a 13% increase in registered company insolvencies in England and Wales in November, to 1,966.
That may intensify concerns that the economy is weakening, following data yesterday showing firms are cutting staff this month.
On an annual basis, though, that’s 12% lower than in November 2023 when 2,243 firms went under.
The Insolvency Service reports that there were 254 compulsory liquidations last month, plus 1,565 creditors’ voluntary liquidations (CVLs), 132 administrations, 14 company…