In 2023, 25,158 company insolvencies were reported in England and Wales by the Insolvency Service, the highest number since 1993.
Figures included 20,577 voluntary liquidations (9% higher than 2022 and the highest number since 1960), 2,827 compulsory liquidations (up 44%), 1,567 administrations (up 27%), and 185 company voluntary arrangements (CVAs) (up 67%).
The number of compulsory liquidations increased to levels last seen before the coronavirus pandemic.
Insolvencies rose to 53.7 per 10,000 active companies in 2023, an increase from 49.6 per 10,000 active companies that entered liquidation in 2022. The rate in 2023 was the highest level since 2014, but still much lower than the peak rate of 94.8 insolvencies per 10,000 active compan…
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