The Insolvency Service has today released updated insolvency statistics for Quarter 3 – July to September 2016.
Statistics from this quarter are the first to be released since the Brexit vote in June, and showthat 3,633 companies entered insolvency. This figure was 2.2% higher than Q2 2016 and is 1.1% higher than Q3 2015. Just like in Q2, the insolvency figures for Q3 have been driven by voluntary liquidations, an estimated 2,569 companies. A further 632 companies were put into compulsory liquidation, a decrease of 4.5% when compared to Q2.
Looking at long-term trends, in the twelve months ending Q3 2016, an estimated 1 out of every 244 active companies went into liquidation, a slight improvement on the twelve months to Q2 2016, which was 1 in 241 businesses. This continues the downward trend in liquidations which have been seen since 2011.
More statistics and the full report can be found on the Insolvency Service website here: https://www.gov.uk/government/statistics/insolvency-statistics-july-to-september-2016