- UK Corporate insolvencies rose by 57% in 2022 relative to 2021. And H1 2023 numbers continue to indicate another tough year for the corporate sector as business insolvencies are 16% higher than in H1 2022, and 27% higher this June relative to same month last year.
- Growth rate in company insolvencies over the last year has been slowing, thus given general trends, volume is set to plateau in 1H of 2024.
- Sectors generating most insolvencies are Construction, Wholesale & Retail Trade and Accommodation & Food Service – industries that are most sensitive to increases in cost base and tightening of discretionary incomes of customers.
- The conclusion of government support packages, high inflation and high interest rates have created a consolidation of factors that continue to drive high insolvency volumes.
UK Corporate Insolvencies
21 Jul 2023