Total company insolvencies in England and Wales jumped in the three months to the end of September to their highest since the start of the COVID-19 pandemic at 3,765, up 43% on a year earlier, government data showed on Friday.
But creditors' voluntary liquidations - which in normal times account for two thirds of insolvencies - rose to their highest total since the three months to the end of June 2009 in the latest quarter at 3,471, more than 90% of the total. Businesses were likely to come under further pressure in the coming months due to a surge in energy prices and the removal of legal restrictions on forced insolvencies, Tett added.
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