Corporate insolvencies fall 7.5 per cent

The level of corporate insolvencies in the second quarter of 2015 has fallen 7.5 per cent year on year, as many practitioners continue to see fewer formal appointments.

The Insolvency Service’s latest statistics show that a total of 3,908 companies entered into formal insolvency between April and June 2015, which was 2.9 per cent less than the previous three months and 7.5 per cent lower than the same period in 2014.

A total of 765 companies were subject to a compulsory winding-up order in the second quarter, a 15 per cent decrease on the last quarter and 21.9 per cent lower than Q2 2014. This was the main driver of the decrease in total company insolvencies.

The statistics also show that the liquidation rate in the 12 months ending in the second quarter of 2015 was 0.48 per cent of active companies, the lowest since comparable records began in the fourth quarter of 1984.

As most of the industry will be aware, the number of company insolvencies has been on a decreasing trend since 2013.

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