Annual figures from the Insolvency Service have shown that there were 23,872 registered business insolvencies in England and Wales in 2024 a fall of 5.1% from 2023’s figure of 25,163.
The business insolvencies comprised of 18,840 creditors’ voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs) and three receivership appointments.
The slight decrease in the total number of insolvencies in 2024 was driven by an 8% decrease in the number of CVLs compared to 2023, which saw the highest ever annual total in the time series since records began in 1960. However, compulsory liquidations were at their highest levels since 2014 with the 2024 annual…
