Corporate insolvencies at lowest level since 2007

By June 4, 2015Insolvency

Company insolvencies in England and Wales have fallen to the lowest number since the end of 2007, according to the Insolvency Service.

The agency’s latest statistics show that 4,052 companies entered into formal insolvency in the first quarter of 2015. This was one per cent less than the last quarter of 2014 and 11 per cent lower than a year ago.

The figures also show that creditors’ voluntary liquidations were at their lowest since June 2008.

Some 2,481 companies entered into a creditor’s voluntary liquidation in the first quarter of 2015, a four per cent drop on the previous quarter and six per cent down on the same period in 2014.

However, a total of 904 companies were subject to a compulsory winding-up order in the first quarter, a nine per cent increase on the previous period but 16 per cent lower than a year ago.

In a similar trend, there were 432 administrations from January to March 2015. This is nine per cent higher than the previous three months but 17 per cent lower than a year ago.

The number of company insolvencies has been falling since the beginning of last year.

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Maidment Judd

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