Company insolvencies across England and Wales were up 10% in the last quarter compared to the same period last year, according to official figures, as a separate report warns of a leap in financial distress.
The Insolvency Service reported 6,208 registered company insolvencies between July and September, compared to 5,635 between the same three months in 2022.
That figure for the third quarter of 2023 was 2% down on the previous three months’ 14-year high but still close to levels seen after the 2008 financial crisis.
“The last two quarters saw the highest quarterly insolvency numbers since Q2 2009,” the report said.
The wider figures showed a leap in the number of firms throwing in the towel, as creditor voluntary liquidations hit the…
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