April saw a dramatic rise in corporate insolvencies across England and Wales.
With one in every 175 businesses declared insolvent in the financial year ending April 30, 52.6 in every 10,000 registered businesses were recorded as being unable to continue.
That figure is a far cry from the high of the 2008-9 recession, which recorded 113.1 insolvencies per 10,000 businesses.
But according to new analysis of Companies House data from the Office for National Statistics, April recorded a surge of corporate closures which was a marked 18% up on the same month in 2023, with 2,177 insolvencies compared to 1,838 a year before.
Alongside those figures, personal insolvencies climbed by 5% in April, to a total of 9,651. The corresponding month in 2…
Read the full article at: https://www.punchline-gloucester.com/articles/aanews/latest-data-on-corproate-and-personal-insolvencies-april-2024