The worst hit sector was once again construction with the largest number of insolvencies at 329, with 4,310 in the 12 months up to August 2024. Wholesale, retail and repair of motor vehicles companies stood at 266, down from 327 the previous month, with a total 3,814 insolvencies over the year.

The hospitality sector, covering accommodation and food services, was down to 270 closures from 322, primarily from restaurants and mobile food trucks, bringing the annual total to 3,712. followed by administrative and support service activities (2,438) and then the manufacturing industry with 1,956 insolvencies.