Published: 18/12/2024 By Hannah Duncan
Welcome to our November monthly insolvency statistics blog.Each month we look at what the Insolvency Service has published on the 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.
This month saw an end to the decline in total number of company insolvencies, with a small 13% increase compared to October 2024.
The graph below shows the total number of company insolvencies, split by the type of insolvency, the data is from November 2019 until November 2024.
There were 1,966 registered company insolvencies in November 2024 in England & Wales
- 13% higher than last month
- 12% lower than November 2023
- 1 in 189 companies entered into insolvency in the last 12 month period
These figures are made up as follows:
Creditors Voluntary Liquidations - CVLs = 1,565
Compulsory liquidations = 254
Administrations = 132
Company Voluntary Arrangements - CVA's = 14
Receivership = 1
Moratorium = 59 between 26th June 2020 & 30th November 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.
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