New data from Creditsafe has found that 2,941 companies in the UK became insolvent in October 2024 – a 34% increase compared to September and 17% higher than the same month in 2023. 16% of insolvencies in October came from within the UK construction sector. High-profile cases included Hadden Construction and C.G. Godfrey Ltd, which entered administration due to escalating operational costs and project delays. Additionally, the Wholesale and Retail and Accommodation and Food Services sectors continue to see high insolvency rates. In October 2024, 382 companies in Wholesale and Retail and 345 in Accommodation and Food Services entered insolvency, together representing 25% of all insolvencies for the month. Notable high-profile cases include Kettle Home Ltd, which entered liquidation amid mounting pressures from rising shipping costs and economic challenges. To read Creditsafe’s news release, go to https://www.creditsafe.com/gb/en/blog/reports/insolvencies.html.