The underlying number of businesses entering insolvency in England and Wales has hit a 17-year low, according to the Insolvency Service’s latest figures.
The number of company insolvencies between April and June was 4,547 – a 12.6% rise compared to the first quarter.
But the Insolvency Service said this was caused by a one-off event whereby 1,131 connected personal service companies – or PSCs – went into creditors’ voluntary liquidation (CVL) on the same day and in response to claimable expense rules.
If this number is taken out of the insolvency figures, they show a drop of 15.4% over the period to the lowest since records began in 2000.
Overall, 4,547 businesses entered insolvency between April and June – 3,454 CVLs, 67…
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