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In the quarter from April to June 2015, the company insolvency rate reached an eight-year low, with fewer corporate insolvencies than at any point since Q4 2007, according to new figures from the Insolvency Service.

Q2 saw 3,908 company insolvency declarations, including company liquidation, administration and other forms of corporate recovery.

This is a drop of 2.9% since the previous quarter – which often sees a spike in retail insolvencies due to companies having a bad Christmas period.

It is also a 7.5% fall year on year, and continues a medium-term downward trend in corporate insolvencies that began in 2013.

A marked decrease in compulsory liquidations, which are at their lowest since Q4 2013, helped to reinforce the trend.

In Q2 2015, just 765 companies faced compulsory winding-up orders, down 15.4% from Q1 and 21.9% from Q2 2014.

Finally, company liquidation is at an all-time low, according to the Insolvency Service data.

The report states: “The liquidation rate in the 12 months ending Q2 2015 was 0.48% of active companies, the lowest level since comparable records began in Q4 1984.”