Key Insights of Liquidation in the United Kingdom

2,006 firms went bust in May, a 6% decrease from April and 21% lower than May last year. Voluntary Liquidations dominate with 1,590 voluntary liquidations, 271 compulsory liquidations, 126 administrations, and 19 company voluntary arrangements.Despite the decrease, monthly insolvencies remain significantly higher than pre-pandemic levels during 2014-2019.Firms need help with high inflation, rising interest rates, and sluggish demand. There is reported potential for up to 33,000 insolvencies in 2024, surpassing last year's 30-year high.

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