According to The Insolvency Service there was a two percent rise during the third quarter of 2016 on the three months prior. An estimated 3,633 companies failed.
The government agency’s official statistics have shown that a trend in case numbers has been consistent for the past year, having followed a decreasing trend from mid-2011 to mid-2015.
The figures also show that an estimated 2,569 companies entered a creditors’ voluntary liquidation in the third quarter; a 5.2 percent rise on the previous quarter and a 2.2 percent year-on-year rise.
The Insolvency Service said these figures are in line with a fairly stable trend observed over the past two years.