Latest data from the Office for National Statistics indicates that corporate insolvencies rose by 18.4% in April 2024 (to 2,177) compared to March. This was an increase of 52.7% compared to pre-pandemic levels in April 2019. Tim Cooper, President of R3 and a Partner at Addleshaw Goddard LLP, commented that both the last year and the last quarter have seen corporate insolvency numbers reach a level not seen since the previous recession in 2008-9. “The fact the UK had entered a recession (albeit relatively modest) during the last two quarters of 2023 was a contributing factor, however the recession would appear to have been short-lived with a better than expected growth in GDP of 0.6% between January and March which has largely cancelled out the recession itself.” To read R3’s news release, go to¬†https://www.r3.org.uk/press-policy-and-research/news/more/32066/page/1//.