The number of registered company insolvencies in Q3 2023 fell 2% to 6,208 on the previous quarter, but were still up 10% on last year
There were 6,208 company insolvencies, made up of 4,965 creditors voluntary liquidations (CVLs), 735 compulsory liquidations, 466 administrations, 41 company voluntary arrangements (CVAs) and one receivership appointment. The number of insolvencies in Q3 2023 was 10% higher than Q3 2022.
The worst affected sectors were construction, retail and hospitality which has been the trend over the last two years, although only hospitality numbers were on the rise, giving limited relief to business owners in construction and retail.
Gareth Harris, partner at RSM UK restructuring advisory, said: A small drop in insol…
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