Experts expect more store chains to collapse this year
The number of firms going bust fell by 8% last year to 4,593, said the Insolvency Service.
That was the lowest number of receiverships, administrations and company voluntary arrangements since 2007.
The drop occurred despite the economy failing to grow last year, with several high profile store closures.
The number of individuals being declared insolvent also fell, by 9%, to 109,477 – the fewest since 2008.
There has been a renewed spate of companies falling into administration recently, including such well known names as HMV, Blockbuster, Jessops and Comet.