The number of company insolvencies in September 2023 was 17% higher than the same month last year, according to official data published by The Insolvency Service today.
It also said the number of Breathing Space registrations, which give people with problem debt legal protections from creditor action for up to 60 days, rose by 25% compared to September last year.
The Insolvency Service said that, of the 1,967 registered company insolvencies in September 2023, there were 1,576 CVLs, which is 14% higher than in September 2022; 255 were compulsory liquidations, which is 19% higher than September 2022; 11 were CVAs, which is the same as in September 2022; and 125 were administrations, which is 47% higher than September 2022.
Meanwhile, in …
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