The latest insolvency statistics for May 2024 show corporate insolvencies decreased by 6.4% in May 2024 to a total of 2,006 compared to April’s total of 2,144, and decreased by 21.2% compared to May 2023’s figure of 2,547.
Personal insolvencies decreased by 3.5% in May 2024 to a total of 9,266 compared to April’s total of 9,605, and increased by 2.9% compared to May 2023’s figure of 9,003.
Here Fran Henshaw analyses what those figures mean for North West businesses.
The month-on-month fall in corporate insolvencies is driven by lower numbers of Administrations, Compulsory Liquidations and Creditors Voluntary Liquidations (CVLs), while the reduction in numbers weve seen compared to May 2023 is mainly driven by a fall in Administration…
Read the full article at: https://www.business-live.co.uk/professional-services/opinion-insolvency-figures-show-businesses-29401292