There were a total of 1,727 insolvencies compared to June’s total of 2,169, but are still higher than levels seen pre-pandemic

The total figure was down 6% compared to last year’s figure of 1,831 but was still higher than levels seen while the government support measures were in place in response to the pandemic, found the Office for National Statistics (ONS).

There were 248 compulsory liquidations in the month of July, which was 81% higher than the 137 total number last year. This was partly a result of an increase in winding-up petitions by HMRC.