Latest figures revealed by the Insolvency Service show that £57.5 million has been returned to the UK economy in the past year, and over 69,000 people have been supported through emergency redundancy payments.
The Annual Report and Accounts show that Insolvency Service Official Receivers handled 10,817 new insolvency cases during 2024-25 , this has resulted in a return of £57.5 million to the economy through distributions to creditors and debtors.
Additionally, there has been continued support for those who have lost their jobs unexpectedly, where their employers cannot pay their redundancy period.
For example, the Redundancy Payments Service, has processed more than 69,000 payments in the past year. The service…