The latest figures released by the Insolvency Service show that 1,011 company insolvencies were recorded in May with 930 of these being creditors’ voluntary liquidations (CVLs). This figure is 18% higher than last May but 3% lower than May 2019.

The figures show that 31 were compulsory liquidations which was 6% lower than last year and 89% lower than 2019 and six were company voluntary arrangements (CVA) which was 50% lower than 2020 and 81% lower than 2019.

Overall, there were 43 administrations which is 61% lower than 2020 and 55% lower than 2019. There was one receivership appointment.