The number of companies that became insolvent in August was 15% lower than during the same period last year, according to official data.
Jennifer Lockhart, partner at law firm Brabners, said: “Fewer businesses failing is always to be welcomed but overall insolvency levels continue to reflect the challenging environment businesses are operating in. Meanwhile, companies on the Companies House register of firms went insolvent at a rate of 55.5 per 10,000 companies in the 12 months to August.The Insolvency Service only records figures for England and Wales, but Scotland also saw a 9% decrease versus August last year to 102 insolvencies, according to the Accountant in Bankruptcy, its equivalent government agency.
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