Statistics showing insolvencies in the third quarter of 2009 were published today (6th November 2009) by the Insolvency Service.

There were 4,716 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the third quarter of 2009 (on a seasonally adjusted basis). This was a decrease of 4.7% on the previous quarter but an increase of 14.6% on the same period a year ago.

This was made up of 1,301 compulsory liquidations (which are down 9.8% on the previous quarter and down 12.9% on the corresponding quarter of the previous year), and 3,415 creditors voluntary liquidations (which are … Continue Reading

New figures released today reveal that the UK business failure rate, which has been seeing an upward trend since 2007, fell in August to its lowest level since September 2008.

The Insolvency and Distress Index from information services firm Experian, reveal that 0.09% of UK businesses failed during August this year, a slight increase on the 0.08% recorded in August 2008. However, this figure is still lower than the 0.11% recorded in July, and the lowest rate so far this year.

According to the report, the total number of business insolvencies during August 2009 increased by 11.3%, compared to August 2008. … Continue Reading

The Insolvency Service has released the latest figures on company insolvencies and it makes for grim reading.

In the twelve months ending Q2 2009, approximately 1 in 120 active companies (0.8%) went into liquidation, up slightly on the previous quarter when the figure was approximately 1 in 130.

There were 5,055 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the second quarter of 2009 (on a seasonally adjusted basis) – an increase of 39.1% on the same period a year ago.

This was made up of 1,457 compulsory liquidations (up 8.7% on the corresponding quarter of the … Continue Reading