This was higher than levels seen while the government support measures were in place in response to covid-19 and also higher than pre-pandemic numbers which stood at 1,466 in June 2019.

Compulsory liquidations in England and Wales were up 77% to 260 due to increased winding-up petitions presented by HMRC, Insolvency Service figures revealed.

Over three months, insolvencies hit 6,403, up 16% marking the first time quarterly insolvencies have topped 6,000 since the financial crisis.

Worst hit sectors were construction and hospitality, while there were signs of pressure on the property sector with estate agents closing at the highest rate seen for several years.