The Insolvency Service has revealed that company insolvencies across England and Wales climbed 31% quarter-by-quarter to 3,116 in Q2 FY21.
The cases, which represented a 4% year-on-year climb, were made 90% of CVLs, 5% of administrations, 3% of liquidations, and 1% of CVAs.
England and Wales company liquidation rate for the year ended 30 June 2021 also increased to 25.9, up from 25.3 in Q1 FY21.
The liquidation rate is calculated on a four-quarter rolling rate per 10,000 active companies, with Q2s 25.9 representing roughly one in 386 companies becoming insolvent in the 12 month period.
Construction, accommodation and food services activities, and wholesale and retail trade saw the highest number of company insolv…
Read the full article at: https://www.accountancytoday.co.uk/2021/07/30/company-insolvencies-hit-31-quarterly-growth/
