The latest government statistics reveal a 5% reduction in registered company insolvencies across the UK, with a total of 23,872 cases in 2024 compared to the previous year.
Data from The Insolvency Service also highlights a 6% month-on-month decline in company insolvencies for December and a 14% decrease compared to December 2023. However, experts caution that this apparent improvement may not signal long-term stability.
Stephen Goderski, Partner at PKF Littlejohn Advisory, described the decline in insolvencies as a positive development but warned of impending business pressures. “A reduction in insolvencies is encouraging, but the real challenge is what lies ahead. With national insurance contributions set to rise in April,…
