This figure is 71% higher than the 788 registered in August 2020 and an increase of 22% from the 1,094 registered in July, indicating that some businesses are failing despite the easing of Covid-19.

The latest data revealed that there were 1,256 creditors’ voluntary liquidations (CVL) which is the highest level since January 2019 and more than double the number in August 2020.

The Insolvency Service recorded 35 compulsory liquidations, which is 55% lower than August 2020, two company voluntary arrangements (CVA) which is 87% lower than August 2020, 55 administrations which is 50% lower than August 2020, and reported no receivership appointments.