Business Insolvencies drop 6% in May

Latest figures from the Insolvency Service have shown that there were 2,006 business insolvencies in England & Wales in May 2024, a decrease of 6% when compared to April 2024 figures (2,144) and 21% lower than the same month in the previous year.
The business consisted of 271 compulsory liquidations, 1,590 creditors’ voluntary liquidations (CVLs), 126 administrations and 19 company voluntary arrangements (CVAs).
CVLs accounted for 79% of all business insolvencies. The number of CVLs de