The latest data from the Insolvency Service shows that corporate insolvencies in England and Wales increased by 6.4% in January 2025 to a total of 1,971 compared to December 2024 and increased by 10.7% compared to January 2024’s figure of 1,780. Tim Cooper, President of R3 and a Partner at Addleshaw Goddard LLP, commented: “The monthly and yearly rise in corporate insolvencies is down to an increase in the number of Creditors’ Voluntary Liquidations and Administrations. That would suggest that directors may be choosing to close down their firms after years of challenging trading conditions and ahead of the increase in the National Minimum Wage and Employers’ National Insurance Contributions in April, and this has pushed corporate insolvency levels to the highest we’ve seen in January in more than five years.” To read R3’s news release, go to https://www.r3.org.uk/press-policy-and-research/news/more/32365/page/1//.