Recession to trigger larger rise in insolvencies than the GFC

We think business insolvencies may rise to a record high of around 8,400 per quarter by Q2 2024 and take until at least early 2025 to return to a more “normal” level of just over 4,000 per quarter. The total rise in insolvencies above this normal level is likely to be greater than following the Global Financial Crisis and represent a larger share of firms.

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