There were 1,747 company insolvencies in October, 24% down on the same month in 2023, when figures were riding high at 2,293. In line with current trends, construction, wholesale and retail, and hospitality companies continued to dominate the list of worst hit sectors.

One in 186 companies on the Companies House register (at a rate of 53.8 per 10,000 companies) entered insolvency between 1 November 2023 and 31 October 2024. This was a decrease from the 56.5 per 10,000 companies going insolvent in the year ending 31 October 2023.