The number of registered company insolvencies in December 2022 was 1,964 – a 32% increase on the previous year (1,489 in December 2021) and 76% higher than pre-pandemic levels (1,119 in December 2019) according to the latest figures from the Office for National Statistics (ONS).

The data shows there were 183 compulsory liquidations in December 2022, more than three and a half times as many as in December 2021 and 8% higher than in December 2019. Numbers of compulsory liquidations have increased from historical lows seen during the pandemic, partly as a result of an increase in winding-up petitions by HMRC.