There have been 1,308 business insolvencies in South East since March 2020, according to new figures
A new report reveals there have been 1,308 insolvencies in South East since March 2020.
Business Rescue Expert has analysed data from the past 12 months to reveal the Year of Lockdown report, which reveals the state of businesses, the liquidation rate and the sectors and regions most likely to undergo an insolvency event.
The table below shows the number of businesses registered in each region, the total number of business insolvencies and the Corporate Insolvency Ratio for each.
|
REGION |
Active Companies in 2020 |
Total Insolvencies |
Corporate Insolvency Ratio (per 10000 companies) |
|
Yorkshire & Humber |
189,000 |
1,642 |
1 in 115 |
|
North West |
267,000 |
2,130 |
1 in 125 |
|
North East |
71,000 |
426 |
1 in 167 |
|
West Midlands |
222,000 |
1,285 |
1 in 173 |
|
London |
531,000 |
2,874 |
1 in 185 |
|
East Midlands |
184,000 |
737 |
1 in 249 |
|
East of England |
271,000 |
1,016 |
1 in 267 |
|
Scotland |
178,000 |
649 |
1 in 274 |
|
South West |
236,000 |
782 |
1 in 301 |
|
South East |
418,000 |
1,308 |
1 in 319 |
|
Wales |
106,000 |
277 |
1 in 382 |
|
Northern Ireland |
75,000 |
148 |
1 in 506 |
The figures show that a business in the Yorkshire and Humber region of England was statistically most likely to undergo an insolvency event than in any other region (1 in 115) while a company based in Northern Ireland would be least likely (1 in 506).
The total number of corporate insolvencies actually fell in 2020, to their lowest recorded levels since 2007. The main reasons are the variety of Government-backed Covid-19 support measures.
