A total of 2,520 businesses across the UK and Northern Ireland entered insolvency in October 2026, a sharp monthly rise of 14.29% on September, new figures show.

The data, published by business information firm Creditsafe on 3 November, follows a smaller rise in September and points to continued pressure on firms heading into the final months of the year. Compared with October 2025, the number of insolvencies was almost flat, up by just 0.12%.

Construction hit hardest

Construction remained the sector with the most failures, recording 406 insolvencies in October. Creditsafe said insolvency levels stayed elevated across several major sectors, with rising costs, borrowing pressures, supply chain disruption, geopolitical tensions and weak consumer demand all weighing on businesses.

“Many businesses simply do not have the capacity to absorb further economic shocks,” the firm said in its monthly report.

The high street has felt the strain this year. Well-known names including TGJones, GAME, Quiz and The Revel Collective — owner of Revolution, Revolución de Cuba, Peach Pubs and Founders & Co. — have entered administration in 2026. Most recently, Poundland filed a notice of intention to appoint administrators, putting around 12,000 jobs at risk.

Year-to-date picture steadier

Despite the sharp monthly jump, the longer trend looks steadier. Between January and October 2026, 23,465 businesses entered insolvency, compared with 23,865 over the same period in 2025 — a fall of almost 2%.

That contrast underlines how volatile the monthly figures can be: a single bad month does not by itself show that failures are spiralling, but it does show that the pressure on firms has not gone away.

Official figures tell a similar story

The official statistics published by the Insolvency Service cover England and Wales on a seasonally adjusted basis, so the totals differ from Creditsafe’s UK-wide count, but the picture is consistent.

There were 1,882 registered company insolvencies in England and Wales in September 2026, 4% fewer than in August and 5% fewer than in September 2025. Over the 12 months to September 2026, about one company in 200 became insolvent, a rate of 49.9 per 10,000 companies on the register, down from 52.8 a year earlier.

Construction also led the official 12-month figures, with 3,873 cases in the year to September 2026, or 17% of insolvencies where an industry was recorded. Wholesale and retail trade followed with 3,364 cases, and accommodation and food services with 3,208.

The Insolvency Service is due to publish its October company insolvency figures on 17 November 2026. Those numbers will show whether the sharp rise recorded by Creditsafe is reflected in the official series, or whether October was a one-month spike.

What to watch next

Businesses face a difficult winter. Interest rates rose to 4% on 5 November, the Bank of England’s first increase since August 2023, adding to borrowing costs for firms that rely on credit. Energy prices and wage costs remain high, and consumer spending has been subdued, with retail sales rising only modestly in October.

For now, the official insolvency rate remains below its level of a year ago. But the October jump is a reminder that many firms are operating with little room for error, and that the next few months — including the Christmas trading period for retailers and hospitality — will matter a great deal.