Infolink Gazette Quarterly Report - Q2 2024

Picture of Rebecca Halifax
Posted by Rebecca Halifax


Quarterly Report - Q2 2024


Profit Warnings, HM Courts Filings,

and Initial Stage Winding Up Petitions.

New analysis from InfolinkGazette shows us that the number of profit warnings continue to cause concern.

Despite indications the number of Insolvencies being filed is beginning to flatten out, numbers remain elevated at levels considerably higher than that seen in previous years.


Profits warnings

Profit Warnings in Q2 2024 increased by more than 20%, from 113 in Q1 2024 to 139 in Q2 2024. This is a marginal increase in comparison to the corresponding Q2 in 2023, where there were 131 instances.

A “material uncertainty” is a clear indicator of significant doubt around an entity's ability to continue as a going concern. Worryingly, our data demonstrates that there is a significant increase in the number of “going concern” or “material uncertainty” events being recorded as the primary reason for a profit warning.

There was an average of 29 stand-alone going concern events in each of the 5 quarters preceding Q2 2024, from Q1 2023 onwards. This quarter has seen that number shoot up to 88.


HM Courts filings

After reaching a total of 744 court filings in Q1 2024 – the highest number of such filings we have ever recorded – this quarter has seen the number of petitions being filed reduce by more than 22%, to a more regular total of 576 during Q2 2024. This is marginally lower than the numbers seen in the corresponding quarter of the previous year, Q2 2023, during which there were 605 filings.

As expected, we saw that Notices of Intention to Appoint an Administrator (350 in Q1 2024 vs 235 in Q2 2024) and Notice of Appointment to Appoint an Administrator (285 in Q1 2024 vs 244 in Q2 2024) continue to make up the majority of notices filed.


Initial stage winding-up petitions

In Q1 2024 there were 1784 Initial Stage Winding Up Petitions. Q2 2024 saw this number fall by 5% to 1694; further evidence that the recent upward trend is beginning to slow down and level off.

While this appears to be good news, it is important to note that this number is still four times higher than that recorded at the start of 2022, when just 398 Winding Up Petition Applications were recorded.

S. Kaler, Head of Data Operations at InfolinkGazette commented:


“HMRC continues to be the main driver of activity, but this quarter has nonetheless seen the lowest number of petitions being brought by HMRC since Q2 2023. While this could be an indicator of things starting to even out we should still be concerned that overall numbers are still more than 425% higher than those we were seeing at the start of 2022.”


InfolinkGazette collates this information and provides it to our clients as soon as it is available. For more information visit our product page: or write to us at:

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