New data from the Insolvency Service shows that corporate insolvencies in England and Wales decreased by 2% in September 2025 (to 2,000) compared with August 2025 (2,046). This was an increase of 2% compared to the September 2024 figure of 1,967, but a 6% decrease from September 2023’s figure (2,128). Tom Russell, President of R3, commented: “Ongoing challenges such as higher energy and materials costs, cautious consumer demand and creditor pressure have combined with slower than anticipated reductions in the cost of borrowing to leave some businesses fighting hard to stay afloat.” This pressure is reflected in the latest Office for National Statistics business insights data, which revealed that around one in six (17%) trading businesses reported having no cash reserves in late September 2025 – the highest proportion since the question was introduced in June 2020. To read R3’s news release, go to https://www.r3.org.uk/press-policy-and-research/news/more/32617/page/1//.