The figures relate to the period directly before firms faced higher employment costs, with company national insurance contributions rising in April.
Nearly one-tenth more companies went insolvent in England and Wales in March than the same time last year, according to new figures.
The number of registered firms that went bust was 1,992 last month, according to the Insolvency Service, a 2% fall compared with February but a 9% increase compared with March 2024.
Creditors’ voluntary liquidations (CVLs), when the directors of a company choose to close it down, made up the majority of the numbers, at 1,543, an 8% year-on-year rise.
The number of compulsory liquidations, when a company is forcibly wound up by a court, was up 5% while…
