There were 4,187 total underlying company insolvencies in Q1 2019, 6.3% more than in Q4 2018. Compared to the same quarter last year, this was an increase of 5.1% and marks the second highest underlying level of insolvencies in any quarter since Q1 2014.
The hike was driven by increases in company voluntary liquidations (CVLs) which increased by 6.2% compared to Q4 2018, hitting 2,822, as well as administrations which were up 21.8% at 451. Company voluntary administrations (CVAs) also increased by 43.1%.
The proportion of administrations increased to 10.8% in Q1 2019, the highest proportion since Q1 2014. Compared to the same period last year, there were 26.8% more administrations.
According to the Insolvency Service, the repair of vehic…
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