August 2021 saw the number of company insolvencies reach their highest level since the first UK lockdown, with businesses balancing the easing of restrictions with the end of government support.
There were 1,348 registered company insolvencies in August 2021, according to figures released by the Insolvency Service 71% higher than in the same month in the previous year, but 1% lower than the pre-pandemic figure in August 2019.
August 2021 saw 1,256 Creditors Voluntary Liquidations (CVLs), the highest level seen since January 2019, more than double the number in August 2020 and 30% higher than in August 2019. Other types of company insolvencies, such as compulsory liquidations, remain comparatively low, driven in part by temporary restric…
Read the full article at: https://www.icaew.com/insights/viewpoints-on-the-news/2021/sep-2021/company-insolvencies-hit-18-month-high
