The number of compulsory liquidations hit its highest level since 2014, according to new figures, as firms continued to grapple with high costs and a sluggish economic environment.
Figures released from the Insolvency Service showed that there were 3,320 compulsory liquidations in 2024, the highest number for 10 years and a 14 per cent increase on the year before.
A compulsory liquidation is a process through which a company is forcibly closed down when it fails to meet its obligations.
The figures indicate that the stress facing businesses from a…
