Voluntary corporate insolvency rose in the second quarter of 2012, amid a general climate of falling numbers of insolvencies of both corporate and personal types.
Figures from the Insolvency Service show 1,040 compulsory company liquidations in Q2, a 13.9% quarterly drop and a year-on-year fall of 18.7%.
Creditors’ voluntary liquidations totalled 3,075, a modest quarterly rise of 0.4% and an annual increase of 4.6%.
Meanwhile, other corporate insolvencies – including 352 company voluntary arrangements – stood at 1,310 including receiverships and administrations, a 6.3% rise year-on-year.
The figures demonstrate that company liquidation is increasingly being entered into either voluntarily by the company involved, or with the agreement of its creditors.
If you’re in need of administration advice, we can help you to understand this changing insolvency climate and how it might affect your business.
And whether you’re looking for corporate recovery, or to liquidate your business entirely, getting the right, up-to-date administration advice can help you to determine the best ways to proceed, in order to minimise the stress involved, and to maximise the long-term benefits of the decision for yourself and any employees.