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Main messages for England and Wales

• After seasonal adjustment, the number of registered company insolvencies in England and Wales was 1,953 in August 2024, 9% lower than in July 2024 (2,144) and 15% lower than the same month in the previous year (2,286 in August 2023). However, the number of company insolvencies remained much higher than those seen both during the COVID-19 pandemic and between 2014 and 2019.

• Company insolvencies in August 2024 consisted of 279 compulsory liquidations, 1,542 creditors鈥� voluntary liquidations (CVLs), 112 administrations and 20 company voluntary arrangements (CVAs). All types of company insolvency were lower than in July 2024.

• One in 180 companies on the Companies House effective register (at a rate of 55.5 per 10,000 companies) entered insolvency between 1 September 2023 and 31 August 2024. This was a slight increase from the 55.4 per 10,000 companies that entered insolvency in the 12 months ending 31 August 2023. Insolvency rates are calculated on a 12-month rolling basis as a proportion of the total number of companies on the effective register. The 12-month rolling rates show longer term trends and reduce the volatility associated with estimates based on single months.

• While the insolvency rate has increased since the lows seen in 2020 and 2021, it remains much lower than the peak of 113.1 per 10,000 companies seen during the 2008-09 recession. This is because the number of companies on the effective register has more than doubled over this period.