Company liquidations have risen 4% in the past 12 months, according to new figures released by the Insolvency Service. There were a total of 3,210 liquidations in England and Wales in the first quarter of 2008.
While compulsory court-ordered liquidations fell 22% year on year to 1,085, the number of firms going into voluntary liquidation has risen by more than 25% to 2,125.
England, Wales and Northern Ireland all experienced increases in the number of company liquidations, but Scotland bucked the trend with insolvencies falling by 39% to just over 100.
The number of individual insolvencies in England and Wales decreased 13.2% to just over 25,000. This was made up of some 15,500 bankruptcies and 9,500 Individual Voluntary Arrangements.