Insolvency statistics – April 2024

Published: 28/05/2024 By Hannah Duncan

Welcome to our monthly insolvency statistics blog, each month we look at what the Insolvency Service has published regarding total number of company insolvencies for England and Wales (for the previous month).

The data is taken from monthly company insolvency statistics created by the insolvency service.

Once again we see another spike in total numbers of insolvencies, meaning numbers are similar to those a year ago. Since 2022 total numbers have continually spiked and dipped but overall have maintained a gradual upward trend.

The graph below shows the total number of company insolvencies, split by the type of insolvency, the data is from April 2019 until April 2024.

There were 2,177 registered company insolvencies in April 2024 in England & Wales

  • 18% higher than last month 
  • 18% higher than April 2023 
  • 1 in 175 companies entering into insolvency in the last 12 month period

These figures are made up as follows: 

Creditors Voluntary Liquidations - CVLs  = 1,715

Compulsory liquidations =300

Administrations = 144

Company Voluntary Arrangements - CVA's  =18

Receivership = 0

Moratorium = 52 between 26th June 2020 & 31st March 2024
 
If you have noticed that your business is struggling financially, perhaps it has cash flow issues, don't panic, there are options to try before an official insolvency procedure is needed BUT you must act now! We are rescue and recovery specialists, we thrive on business turnaround and are only a phone call away from getting your business back on track. Read our blog on 6 reasons why you should take early advice from an IP

Could a Moratorium give you the necessary breathing space to save your business?  Find out here.   

Want to know more about each Insolvency procedure listed? Or just need some insolvency advice? Please click each link above for our insolvency advice pages or give us a call for a more detailed chat, call 020 8661 7878 or email insolvency@turpinba.co.uk we offer a free no obligation initial meeting. 

Or take our Insolvency Test