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Company insolvency data July 2024

ended 20. August 2024

Tomorrow morning at 09:30, the Insolvency Service is publishing the latest insolvency data for UK companies — relating to July 2024. Please answer the questions below and we'll issue your views to the media when the data drops. Also, if you'd like to try out Newspage Platinum to boost your chances of regularly getting into the world's leading media between now and Christmas, use the discount code, Platinum53, to get three months of our Platinum subscription half price. You'll also be invited onto the Newspage News Desk, which is shaping the news every day by feeding intel from financial services experts straight to journalists.

  • What are the main financial challenges facing companies at present? Cash flow, late payments, access to capital and finance, ongoing fallout from Covid and inflation? Where are the main pain points? 
  • Over the past three months, have you seen more companies struggling or are conditions overall starting to improve? Which sectors, in your experience, are being hardest hit at present? Will the Bank of England rate cut help?
  • How lenient (or not) are HMRC and lenders/finance providers being when it comes to companies that are struggling at present?

1 responses from the Newspage community

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Patricia McGirr
Founder at Repossession Rescue Network
Company insolvencies are more than just a business problem, they’re a ticking time bomb for jobs and household finances. When businesses collapse, especially in hard-hit sectors like hospitality, jobs disappear, leaving families scrambling to pay rent, mortgages, and bills. And the worst part? HMRC and lenders are showing little mercy as the drive to recoup capital takes centre stage. Without access to preferential borrowing, companies are squeezed to breaking point. This financial chokehold is driving more businesses over the edge, and the ripple effect is hitting homes across the country. If we don't act now, we're not just losing businesses, we're pushing more families into financial crisis.