The October 2024 company insolvency stats for England and Wales have been published by The Insolvency Service, together with related figures for Scotland and Northern Ireland.

Company insolvency statistics for England and Wales – October 2024

After seasonal adjustment there were 1,747 company insolvencies in October 2024. This was 10% lower than in September 2024 and 24% lower than the number in October 2023.

In October 2024 there were:

• 1,445 creditors’ voluntary liquidations (CVLs)
• 188 compulsory liquidations
• 100 administrations
• 12 company voluntary arrangements (CVAs)
• 2 receiverships

CVLs

In October 2024, CVLs accounted for 83% of all company insolvencies. The number of CVLs was 7% lower than September 2024 and 24% lower than October 2023, after seasonal adjustment.

Compulsory liquidations

The number of compulsory liquidations was 14% lower than in September 2024 and 20% lower than in October 2023 after seasonally adjustment.

Administrations

The number of administrations was 35% lower than in September 2024 and 28% lower than in October 2023 after seasonally adjustment.

CVAs

The number of CVAs was 48% lower than in September 2024 and 29% lower than in October 2023 after seasonally adjustment.

Receivership appointments

There were two receivership appointments in October 2024. Receivership appointments are now rare - there were two in the past 12 months ending October 2024.

Insolvency rate statistics for England and Wales – October 2024

The company liquidation rate in the 12 months to October 2024 was 53.8 per 10,000 companies on the effective register in England and Wales. This corresponds to 1 in 186 companies entering insolvency.

Company insolvencies by industry in England and Wales – October 2024

The three industries (in accordance with SIC 2007) that experienced the highest number of insolvencies in the 12 months to September 2024 were:

• construction (4,264 insolvencies, 17% of cases with industry captured)
• wholesale and retail trade and repair of vehicles (3,774 insolvencies, 15% of cases with industry captured)
• accommodation and food services activities (3,679 insolvencies, 15% of cases with industry captured)

Company insolvency statistics for Scotland – October 2023

The Accountant in Bankruptcy (AiB), Scotland’s Insolvency Service, administers company insolvency in Scotland.

In October 2024 there were 116 company insolvencies, which was 18% higher than the number in October 2023. Of the total company insolvencies in Scotland, there were:

• 50 CVLs
• 60 compulsory liquidations
• 5 administrations
• 1 receivership appointment
• 0 CVAs

Historically, compulsory liquidations were the most common type of company insolvency in Scotland. However, since October 2020, numbers of CVLs have remained higher than numbers of compulsory liquidations.

Company insolvency statistics for Northern Ireland – October 2023

In October 2024 there were 31 company insolvencies in Northern Ireland, 15% higher than in October 2023. Of the total company insolvencies, there were:

• 17 compulsory liquidations
• 12 CVLs
• 1 CVA
• 1 administration
• 0 administrative receiverships

Please note, the figures for Northern Ireland are not seasonally-adjusted.

Where can I see insolvency notices in The Gazette?

The Gazette is the primary source of both corporate insolvency and personal insolvency information in the UK and publishes this information in the form of insolvency notices, allowing transparency for the public, the credit industry and concerned individuals to quantify risk and inform creditors. You can view all corporate and personal insolvency notices on The Gazette website.

The Gazette also provides a Data Service which provides timely official company, insolvency and deceased estates information to aid data driven decision-making. As the UK’s official public record, our authorised data can help your business with:

• KYC/due diligence
• risk management
• regulatory compliance
• business development
• business intelligence and strategy

For more information on The Gazette Data Service, contact the team on 01603 985949, email data@thegazette.co.uk or click on the link below.

Enquire now

Next insolvency statistics release

Figures for November 2024 will be released on 17 December 2024.

See also

Individual insolvency statistics – October 2024

Company insolvency statistics - September 2024

Find out more

Company Insolvency Statistics October 2024 (GOV.UK)

The Insolvency Service (GOV.UK)

Accountant in Bankruptcy (AiB)

Images

Getty Images

Publication date

19 November 2024