January 30th, 2020 / Insight posted in Articles

Creditors’ voluntary liquidations drive underlying company insolvencies to six-year annual high

The Insolvency Service figures for Q4 2019 have revealed that in 2019, underlying company insolvencies increased to their highest annual level since 2013.

Creditors’ voluntary liquidations make up the bulk, although they were down slightly this quarter.

The construction industry topped the tables with 3,198 underlying insolvencies. The wholesale and retail trade and repair of vehicles grouping came in second with 2,442.

Individual insolvencies are also high, reaching levels not seen since 2010, with individual voluntary agreements at their highest on record in 2019.