The figure was 43% higher than in the same month in August 2021 at 1,348.

The worst affected areas were construction with 347 business collapses followed by 216 hospitality businesses and 124 manufacturers.

In August 2022 there were 1,662 creditors’ voluntary liquidations (CVLs), 33% higher than in August 2021 and 73% higher than August 2019.

Numbers for other types of company insolvencies, such as compulsory liquidations, remained lower than before the coronavirus pandemic, although there were almost four times as many compulsory liquidations in August 2022 as in August 2021, and the number of administrations was more than twice as high as a year ago.