A fall in the number of monthly company insolvencies in England and Wales reflects an improvement in local trading conditions, with a growing quantity of struggling businesses able to be rescued rather than closed down.
This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest monthly statistics published by the Insolvency Service which show that corporate insolvencies decreased by 7.3% in July 2024 to a total of 2,191 compared to the previous month’s total of 2,363.
The drop in monthly company insolvencies follows soaring figures for June, which saw a 15.7% increase compared to the previous month, and a 17.1% rise against June 2023.
R3 Midlands Chair Stephen Rome, a partner at Penningtons…
