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Despite several recent high-profile corporate failures, and some of the most challenging operating circumstances imaginable for many companies throughout 2020, insolvencies in the UK have remained relatively subdued.

This is widely expected to change once the government support measures introduced in response to the Covid-19 pandemic are withdrawn, but how many corporate insolvencies would be a significant deviation from historic norms and be a serious cause for alarm?

The Insolvency Service recently published details of the number of company insolvencies in the UK in 2020, noting that for England and Wales “the total number of registered underlying company insolvencies in 2020 decreased to the lowest annual level since 1989” and this was “likely to be partly driven by the government support measures put in place in response to the coronavirus pandemic”.