The number of company insolvencies rose 11 per cent year-on-year to 1,971 across England and Wales in January 2025, according to data from the Insolvency Service.
It was the highest level registered in January for more than five years.
This rise in corporate insolvencies is down to an increase in the number
of Creditors’ Voluntary Liquidations and administrations and showed that businesses were choosing to close following too many years of challenging trading conditions and before the rise in costs from the increase to employers’ national insurance contributions and to the national minimum wage in April.
In addition, the recent cut in the growth forecast has had an impact on business confidence and led to many directors becoming…
