Company collapses in England and Wales fell last year, according to new official figures, but experts warned of more uncertainty for firms in the coming months.
Some 23,872 companies went out of business in 2024, the Insolvency Service said, down 5% on the previous year.
Despite the drop year-on-year, the number of insolvencies was far higher than most of the last decade, and remains at levels last seen during the 2008 financial crisis.
Administrations, an accounting process used when especially large companies hit the wall, rose 2%.
David Hudson, restructuring advisory partner at the business consultancy FRP, said it was “not clear that this trend will continue for long into 2025”.
He added that it was “notable” that…
