Research and Statistics

The Insolvency Service has published the latest release of its monthly series to provide more up to date information on the number of companies and individuals who are unable to pay debts and enter formal insolvency procedures. The release supplements the Insolvency Service’s quarterly company and individual Insolvency National Statistics.The monthly series began when COVID-19 occurred, to assess the impact companies and individuals faced. The releases have continued since to get more in depth and timely data, along with the quarterly release. Company Insolvencies (UK) In August 2023 there was a total of 2,308 registered company insolvencies across England and Wales, further broken down as follows:1,880 creditors voluntary liquidations (CVLs) – 13% higher than that in August 2022 221 compulsory liquidations – 45% higher than in August 2022 195 administrations – 68% higher than in August 2022 11 company voluntary arrangements (CVAs) – 15% lower than in August 2022 1 receivership appointmentOverall figures are 19% higher than in August 2022. Also, compared to July numbers, this is quite a leap. There were approximately 600 more registered company insolvencies in August.Compulsory Liquidations and CVAs had seen a decrease compared to July 2023 figures, whereas all other types of insolvency procedure saw an increase. This included receivership appointments which had its first recorded in many months!Note: between 26 June 2020 and 31 August 2023, 46 companies were granted a moratorium and 22 had restructuring plans registered at Companies House. These procedures were created by the Corporate Insolvency and Governance Act 2020. Company Insolvencies (Scotland) August 2023 saw 112 company insolvencies in Scotland. Figures comprised 71 CVLs, 33 compulsory liquidations and 8 administrations. There were no CVAs or receiverships. These statistics were 6% higher than in August 2022. Compared to July 2023, these numbers are shown to have increased.Historically, the number of company insolvencies registered in Scotland has been driven by compulsory liquidations but since April 2020, there have been almost three times as many CVLS as compulsory liquidations. For the first half of 2023, CVL numbers remained more than 1.5 times higher than compulsory liquidation numbers.Between 26 June 2020 and 31 August 2023, there were no moratoriums obtained in Scotland and two companies had a restructuring plan registered at Companies House. The Corporate Insolvency and Governance Act 2020 created these two procedures. Company Insolvencies (Northern Ireland) In August 2023, there were 12 company insolvencies in Northern Ireland, comprising 2 compulsory liquidations, 4 CVAs and 6 CVLs. There were no receiverships or administrations. Compared to August 2022, such numbers are 14% lower and when looking to July 2023, overall numbers are almost exact. Touching on individual insolvencies…. For UK figures, there were a total of 2,714 Debt Relief Orders (DROs) recorded in August 2023. When looking back to August figures of 2022, 2023 stats are 40% higher.There were 648 bankruptcies for England and Wales in August 2023 - slightly more than what was seen last month. The records are made up of 522 debtor applications and 126 creditor petitions.Compared to August 2022, bankruptcies were 12% higher, debtor applications were 6% higher and creditor petitions were 43% higher. Numbers for bankruptcy were slightly higher in the first eight months of 2023 compared to that in 2022, but were still less than half the amount pre-2020.It was also found that there were 5,174 individual voluntary arrangements (IVAs) registered, on average, during the three months ending August 2023. This figure is 27% lower than the three-month period ending August 2022. Compared to 2022 where an annual record high was seen, IVA numbers have been lower throughout 2023.When looking at the figures for Northern Ireland, August 2023 saw 139 individual insolvencies. Compared to August 2022 statistics, this is 11% higher. 2023 August numbers consisted of 108 IVAs, 14 DROs and 17 bankruptcies.Find the full publication of statistics here.

The Insolvency Service has published the latest release of its monthly series to provide more up to date information on the number of companies and individuals who are unable to pay debts and enter formal insolvency procedures. The release supplements the Insolvency Service’s quarterly company and individual Insolvency National Statistics.The monthly series began when COVID-19 occurred, to assess the impact companies and individuals faced. The releases have continued since to get more in depth and timely data, along with the quarterly release. Company Insolvencies (UK) In July 2023 there was a total of 1,727 registered company insolvencies across England and Wales, further broken down as follows:1,336 creditors voluntary liquidations (CVLs) – 17% lower than that in July 2022 248 compulsory liquidations – 81% higher than in July 2022 124 administrations – 53% higher than in July 2022 19 company voluntary arrangements (CVAs) – almost 4 times as many as in July 2022 0 receivership appointmentsOverall figures are 6% lower than in July 2022, but higher than pre-pandemic levels. The main driver in the decrease of company insolvencies can be interpreted as the decrease of CVLs (of which tends to typically be high and increasing, as seen in previous records).This being said, CVAs, compulsory liquidations and administrations all increased compared to the same month last year. The reason for the increase of compulsory liquidations in particular is assumed to be due to the presentation of more winding up petitions from HMRC, when compared to historical lows during the coronavirus pandemic.It is important to reflect that compared to May and June 2023, statistics are significantly lower. Focusing just on June, there were around 400 fewer registered company insolvencies across England and Wales, with there being fewer CVLs, Compulsory Liquidations and Administrations in July 2023, than what we saw for June. It is only CVAs which saw an increase compared to June.Note: between 26 June 2020 and 31 July 2023, 46 companies were granted a moratorium and 22 had restructuring plans registered at Companies House. These procedures were created by the Corporate Insolvency and Governance Act 2020. Company Insolvencies (Scotland) July 2023 saw 97 company insolvencies in Scotland. Figures comprised 51 CVLs, 44 compulsory liquidations and 2 administrations. There were no CVAs or receiverships. These statistics were 41% higher than in July 2022. Compared to June 2023, these numbers are shown declining.Historically, the number of company insolvencies registered in Scotland has been driven by compulsory liquidations but since April 2020, there have been almost three times as many CVLS as compulsory liquidations. For the first half of 2023, CVL numbers remained more than 1.5 times higher than compulsory liquidation numbers.Between 26 June 2020 and 31 July 2023, there were no moratoriums obtained in Scotland and two companies had a restructuring plan registered at Companies House. The Corporate Insolvency and Governance Act 2020 created these two procedures. Company Insolvencies (Northern Ireland) In July 2023, there were 13 company insolvencies in Northern Ireland, comprising 3 compulsory liquidations, 2 CVAs and 8 CVLs. There were no receiverships or administrations. Compared to July 2022, such numbers are 7% lower and when looking to June 2023, overall numbers are almost exact. Touching on individual insolvencies…. For UK figures, there were a total of 2,667 Debt Relief Orders (DROs) recorded in July 2023. When looking back to July figures of 2022, 2023 stats are 45% higher. It is also higher compared to that recorded in June 2023.There were 620 bankruptcies for England and Wales in July 2023 - slightly less than what was seen last month. The records are made up of 495 debtor applications and 125 creditor petitions.Compared to July 2022, bankruptcies were 14% higher, debtor applications were 7% higher and creditor petitions were 49% higher. Numbers for bankruptcy were slightly higher in the first seven months of 2023 compared to that in 2022, but were still less than half the amount pre-2020.It was also found that there were 5,659 individual voluntary arrangements (IVAs) registered, on average, during the three months ending July 2023. This figure is 26% lower than the three-month period ending July 2022. Compared to 2022 where an annual record high was seen, IVA numbers have been lower throughout 2023.When looking at the figures for Northern Ireland, July 2023 saw 108 individual insolvencies. Compared to July 2022 statistics, this is 33% lower. 2023 July numbers consisted of 83 IVAs, 16 DROs and 9 bankruptcies.Find the full publication of statistics here.

The company insolvency statistics for the second quarter of 2023 (1 April to 30 June) have been released, and so we discuss the findings here. Company Insolvency in England and Wales The total number of company insolvencies registered in Q2 2023 was 6,342. This is a 13% increase compared to the same period the year before (being the highest total since Q2 2009) and 9% increase compared to Q1 2023.Process specific breakdown:Creditors voluntary liquidations totalled 5,240 (a 9% increase from Q1 2023 and a 7% increase from Q2 2022). CVLs accounted for 83% of cases. Compulsory liquidations totalled 637 (a 5% decrease from Q1 2023 and a 67% increase from Q2 2022). Compulsory liquidations accounted for 10% of cases. Administrations totalled 409 (a 30% increase from Q1 2023 and a 34% increase from Q2 2022). Administrations accounted for 6% of cases. Company voluntary arrangements totalled 56 (a 47% increase from Q1 2023 and a 75% increase from Q2 2022). CVAs accounted for 1% of cases. No receivership appointmentsIt should be reflected on that there were 45 companies obtaining a moratorium and 21 companies having restructuring plans registered at Companies House, between 26 June 2020 and 30 June 2023.When comparing to Q1 statistics of 2023, all processes rose in use apart from compulsory liquidations. A key point to pick out is that the number of CVLs in Q2 2023 was the highest in the time series going back to 1960!Liquidation Rates per 10,000 active companiesIn the four quarters ending Q2 2023, the liquidation rate for companies was 52 per 10,000 active companies in England and Wales (1 in 192 companies liquidated in the 12 months ending 30 June 2023). This rate is more than the 12 month periods ending Q1 2023 and Q2 2022.Company Insolvencies by IndustryFrom analysing SIC codes of companies and the insolvency statistics, it has been shown that the industries experiencing the highest amount of insolvencies in the 12 months ending Q2 2023 were:Construction – 4,262 insolvencies Wholesale and Retail Trade; Repair of vehicles – 3,695 insolvencies Accommodation and Food Service Activities – 3,262 insolvencies Administrative and Support Service Activities – 2,222 insolvencies Manufacturing - 1,874 insolvenciesThis notes a change compared to Q1 2023 where Manufacturing was replaced by Professional, Scientific and Technical Activities. The other four industries remained similar to previously, just with a higher rate of insolvencies recorded.Company Insolvencies in Scotland In Scotland, there were 324 company insolvencies recorded for Q2 2023. This was 25% higher than in the same period of 2022. Statistics included 112 compulsory liquidations, 193 CVLs, 19 administrations and 1 receivership. There were no CVAs.The liquidation rate for the 12 months ending Q2 2023 was 51.6 per 10,000 active companies. This was up by 9.8 compared to the same period the year before.Between 26 June 2020 and 30 June 2023, there were no moratoriums in Scotland, but there were two restructuring plans registered at Companies House.Company Insolvencies in Northern IrelandNorthern Ireland saw 35 company insolvencies in Q2 2023 which was 40% less than in Q2 2022 and also a decrease of just 5 from Q1 2023. The statistics consist of 24 CVLs, 7 compulsory liquidations, 2 administrations and 2 CVAs. There were no receiverships.The liquidation rate for the 12 months ending Q2 2023 was 21.3 per 10,000 active companies in Northern Ireland. This was a decrease of 2.2 from in the same period the year before.The full report and findings can be seen here.

The Insolvency Service has published the latest release of its monthly series to provide more up to date information on the number of companies and individuals who are unable to pay debts and enter formal insolvency procedures. The release supplements the Insolvency Service’s quarterly company and individual Insolvency National Statistics.The monthly series began when COVID-19 occurred, to assess the impact companies and individuals faced. The releases have continued since to get more in depth and timely data, along with the quarterly release. Company Insolvencies (UK) In June 2023 there was a total of 2,163 registered company insolvencies across England and Wales, further broken down as follows:1,759 creditors voluntary liquidations (CVLs) – 21% higher than that in June 2022 260 compulsory liquidations – 77% higher than in June 2022 130 administrations – 44% higher than in June 2022 14 company voluntary arrangements (CVAs) – 75% higher than in June 2022 0 receivership appointmentsOverall figures are 27% higher than in June 2022 and also higher than pre-pandemic levels. The main driver in the rise of company insolvencies was the increase of CVLs - the most common type of company insolvency. This being said, CVAs, compulsory liquidations and administrations all increased compared to the same month last year too. The reason for the increase of compulsory liquidations in particular is assumed to be due to the presentation of more winding up petitions from HMRC, when compared to historical lows during the coronavirus pandemic.It is important to reflect that compared to May 2023, statistics are significantly lower. There were around 400 more registered company insolvencies across England and Wales, with there being more CVLs, CVAs and Administrations in May 2023, than what we see for June. It is only Compulsory Liquidations which saw an increase compared to in May 2023.Note: between 26 June 2020 and 30 June 2023, 45 companies were granted a moratorium and 21 had restructuring plans registered at Companies House. These procedures were created by the Corporate Insolvency and Governance Act 2020. Company Insolvencies (Scotland) June 2023 saw 113 company insolvencies in Scotland. Figures comprised 72 CVLs, 36 compulsory liquidations and 5 administrations. There were no CVAs or receiverships. These statistics were 51% higher than in June 2022. This is also a rise compared to May 2023 - the biggest change being in CVLs.Historically, the number of company insolvencies registered in Scotland has been driven by compulsory liquidations but since April 2020, there have been almost three times as many CVLS as compulsory liquidations. For the first half of 2023, CVL numbers remained more than 1.5 times higher than compulsory liquidation numbers.Between 26 June 2020 and 30 June 2023, there were no moratoriums obtained in Scotland and two companies had a restructuring plan registered at Companies House. The Corporate Insolvency and Governance Act 2020 created these two procedures. Company Insolvencies (Northern Ireland) In June 2023, there were 14 company insolvencies in Northern Ireland, comprising 2 compulsory liquidations, 1 CVA and 11 CVLs. There were no receiverships or administrations. Compared to June 2022, such numbers are 44% lower and when looking to May 2023, numbers are pretty similar. Touching on individual insolvencies…. For UK figures, there were a total of 2,320 Debt Relief Orders (DROs) recorded in June 2023. When looking back to June figures of 2022, 2023 stats are 21% higher. This being said, it is a decrease from levels in May 2023.There were 643 bankruptcies for England and Wales in June 2023. The records are made up of 521 debtor applications (the exact amount as in May 2023) and 122 creditor petitions.Compared to June 2022, bankruptcies were 29% higher and debtor applications were 27% higher. Creditor petitions were 36% higher than in June 2022. Numbers for bankruptcy were slightly higher in the first half of 2023 compared to that in 2022, but were still less than half the amount pre-2020.It was also found that there were 6,026 individual voluntary arrangements (IVAs) registered, on average, during the three months ending June 2023. This figure is 22% lower than the three-month period ending June 2022.When looking at the figures for Northern Ireland, June 2023 saw 160 individual insolvencies. Compared to June 2022 statistics, this is 19% higher, but when looking at May 2023 figures, June levels come out slightly lower. 2023 June numbers consisted of 110 IVAs, 14 DROs and 36 bankruptcies.Find the full publication of statistics here.

The Insolvency Service has published the latest release of its monthly series to provide more up to date information on the number of companies and individuals who are unable to pay debts and enter formal insolvency procedures. The release supplements the Insolvency Service’s quarterly company and individual Insolvency National Statistics.The monthly series began when COVID-19 occurred, to assess the impact companies and individuals faced. The releases have continued since to get more in depth and timely data, along with the quarterly release.Comparisons will be made throughout to that of last year (2022). Company Insolvencies (UK) In May 2023 there was a total of 2,552 registered company insolvencies across England and Wales, further broken down as follows:2,181 creditors voluntary liquidations (CVLs) – 38% higher than that in May 2022 189 compulsory liquidations – 34% higher than in May 2022 151 administrations – 80% higher than in May 2022 31 company voluntary arrangements (CVAs) – 121% higher than in May 2022 0 receivership appointmentsOverall figures are 40% higher than in May 2022 and also a significant increase when looking at figures from April 2023. The main driver in the rise of company insolvencies was the increase of CVLs - the most common type of company insolvency. A reason for the increase of compulsory liquidations in particular can be due to the presentation of more winding up petitions from HMRC, when compared to historical lows during the coronavirus pandemic.Note: between 26 June 2020 and 31 May 2023, 44 companies were granted a moratorium and 21 had restructuring plans registered at Companies House. These procedures were created by the Corporate Insolvency and Governance Act 2020. Company Insolvencies (Scotland) May 2023 saw 97 company insolvencies in Scotland. Figures comprised 57 CVLs, 35 compulsory liquidations and 5 administrations - similar to that of March 2023. There were no CVAs or receiverships. These statistics were 4% higher than in May 2022.Historically, the number of company insolvencies registered in Scotland has been driven by compulsory liquidations but since April 2020, there have been almost three times as many CVLS as compulsory liquidations.Between 26 June 2020 and 31 May 2023, there were no moratoriums obtained in Scotland and two companies had a restructuring plan registered at Companies House. The Corporate Insolvency and Governance Act 2020 created these two procedures. Company Insolvencies (Northern Ireland) In May 2023, there were 11 company insolvencies in Northern Ireland, comprising 2 compulsory liquidations, 1 administration and 8 CVLs. There were no receiverships or CVAs. Compared to May 2022, such numbers are 45% lower. Touching on individual insolvencies…. For UK figures, there were a total of 2,505 Debt Relief Orders (DROs) recorded in May 2023. When looking back to May figures of 2022, 2023 stats are 23% higher.There were 617 bankruptcies for England and Wales in May 2023. The records are made up of 521 debtor applications and 96 creditor petitions.Compared to May 2022, both bankruptcies and debtor applications were 5% higher. Creditor petitions were 3% higher than in May 2022.It was also found that there were 6,767 individual voluntary arrangements (IVAs) registered, on average, during the three months ending May 2023. This figure is 14% lower than the three-month period ending May 2022.When looking at the figures for Northern Ireland, May 2023 saw 188 individual insolvencies. Compared to May 2022 statistics, this is 31% higher. 2023 May numbers consisted of 154 IVAs, 15 DROs and 19 bankruptcies.Find the full publication of statistics here.

The Insolvency Service has published the latest release of its monthly series to provide more up to date information on the number of companies and individuals who are unable to pay debts and enter formal insolvency procedures. The release supplements the Insolvency Service’s quarterly company and individual Insolvency National Statistics.The monthly series began when COVID-19 occurred, to assess the impact companies and individuals faced. The releases have continued since to get more in depth and timely data, along with the quarterly release.Comparisons will be made throughout to that of last year (2022). Company Insolvencies (UK) In April 2023 there was a total of 1,685 registered company insolvencies across England and Wales, further broken down as follows:1,368 creditors voluntary liquidations (CVLs) – 23% lower than that in April 2022 183 compulsory liquidations – more than double that in April 2022 122 administrations – 8% higher than in April 2022 12 company voluntary arrangements (CVAs) – 20% higher than in April 2022 0 receivership appointmentsThese figures are 15% lower than in April 2022 and also a significant decrease when looking at figures from March 2023. The decrease here is said to be a result of a decrease in CVLs. For all other insolvency proceedings, the figures had increased compared to that the previous year. HMRC has presented more winding up petitions than previously and is therefore the main driver of the increase in court led appointments (compulsory liquidations).Note: between 26 June 2020 and 30 April 2023, 43 companies were granted a moratorium and 21 had restructuring plans registered at Companies House. These procedures were created by the Corporate Insolvency and Governance Act 2020. Company Insolvencies (Scotland) April 2023 saw 114 company insolvencies in Scotland. Figures comprised 64 CVLs, 41 compulsory liquidations and 9 administrations - similar to that of March 2023. There were no CVAs or receiverships. These statistics were 24% higher than in April 2022.Historically, the number of company insolvencies registered in Scotland has been driven by compulsory liquidations but since April 2020, there have been almost three times as many CVLS as compulsory liquidations.Between 26 June 2020 and 30 April 2023, there were no moratoriums obtained in Scotland and two companies had a restructuring plan registered at Companies House. The Corporate Insolvency and Governance Act 2020 created these two procedures. Company Insolvencies (Northern Ireland) In April 2023, there were 8 company insolvencies in Northern Ireland, comprising 2 compulsory liquidations, 2 administrations and 4 CVLs. There were no receiverships or CVAs. Compared to April 2022, such numbers are 38% lower - alike to that in March 2023. Touching on individual insolvencies…. For UK figures, there were a total of 2,384 Debt Relief Orders (DROs) recorded in April 2023. When looking back to April figures of 2022, 2023 stats are 24% higher.There were 531 bankruptcies for England and Wales in April 2023. The records are made up of 418 debtor applications and 113 creditor petitions.Compared to April 2022, bankruptcies were 5% lower and debtor applications 10% lower. Creditor petitions were 18% higher than in April 2022.It was also found that there were 6,336 individual voluntary arrangements (IVAs) registered, on average, during the three months ending April 2023. This figure is 16% lower than the three-month period ending April 2022.When looking at the figures for Northern Ireland, April 2023 saw 110 individual insolvencies. Compared to April 2022 statistics, this is 32% lower. 2023 April numbers consisted of 85 IVAs, 18 DROs and 7 bankruptcies.Find the full publication of statistics here.

The company insolvency statistics for the first quarter of 2023 (1 January to 31 March) have been released, and so we discuss the findings here. Company Insolvency in England and Wales The total number of company insolvencies registered in Q1 2023 was 5,747. Reflecting on Q4 2022 figures and we see a 4% decrease, but when looking compared to Q1 2022, these figures are 18% higher.Process specific breakdown:Creditors voluntary liquidations totalled 4,739 (a 2% decrease from Q4 2022 and an 18% increase from Q1 2022). CVLs accounted for 82% of cases. Compulsory liquidations totalled 652 (a 11% decrease from Q4 2022 and a 92% increase from Q1 2022). Compulsory liquidations accounted for 11% of cases. Administrations totalled 318 (a 12% decrease from Q4 2022 and a 16% increase from Q1 2022). Administrations accounted for 6% of cases. Company voluntary arrangements totalled 38 (a 52% increase from Q4 2022 and Q1 2022). CVAs accounted for 1% of cases. No receivership appointmentsIt should be reflected on that there were 42 companies obtaining a moratorium and 20 companies having restructuring plans registered at Companies House, between 26 June 2020 and 31 March 2023.Liquidation Rates per 10,000 active companiesIn the four quarters ending Q1 2023, the liquidation rate for companies was 50.8 per 10,000 active companies in England and Wales (1 in 197 companies liquidated in the 12 months ending 31 March 2023). This rate is more than the 12 month periods ending Q4 2022 and Q1 2022.Company Insolvencies by IndustryFrom analysing SIC codes of companies and the insolvency statistics, it has been shown that the industries experiencing the highest amount of insolvencies in the 12 months ending Q1 2023 were:Construction – 4,165 insolvencies Wholesale and Retail Trade; Repair of vehicles – 3,518 insolvencies Accommodation and Food Service Activities – 2,951 insolvencies Administrative and Support Service Activities – 2,209 insolvencies Professional, Scientific and Technical Activities – 1,817 insolvenciesThese were also the five sectors with the most insolvencies in the 12 months ending Q1 2022.Company Insolvencies in Scotland In Scotland, there were 297 company insolvencies recorded for Q1 2023. This was 41% higher than in the same period of 2022. Statistics included 113 compulsory liquidations, 176 CVLs, 7 administrations and 1 receivership. There were no CVAs.The liquidation rate for the 12 months ending Q1 2023 was 49.5 per 10,000 active companies. This was up by 11.9 compared to the same period the year before.Between 26 June 2020 and 31 March 2023, there were no moratoriums in Scotland, but there were two restructuring plans registered at Companies House.Company Insolvencies in Northern IrelandNorthern Ireland saw 40 company insolvencies in Q1 2023 which was 29% less than in Q1 2022. The statistics consist of 28 CVLs, 4 compulsory liquidations, 2 administrations and 6 CVAs. There were no receiverships.The liquidation rate for the 12 months ending Q1 2023 was 24.8 per 10,000 active companies in Northern Ireland. This was an increase of 5.7 from in the same period the year before.The full report and findings can be seen here.

The Insolvency Service has published the latest release of its monthly series to provide more up to date information on the number of companies and individuals who are unable to pay debts and enter formal insolvency procedures. The release supplements the Insolvency Service’s quarterly company and individual Insolvency National Statistics.The monthly series began when COVID-19 occurred, to assess the impact companies and individuals faced. The releases have continued since to get more in depth and timely data, along with the quarterly release.Comparisons will be made throughout to that of last year (2022). Company Insolvencies (UK) In March 2023 there was a total of 2,457 registered company insolvencies across England and Wales, further broken down as follows:2,011 creditors voluntary liquidations (CVLs) – 9% higher than that in March 2022 288 compulsory liquidations – more than double that in March 2022 (almost 100 more than in February 2023) 145 administrations – 12% higher than in March 2022 13 company voluntary arrangements (CVAs) – 44% higher than in March 2022 0 receivership appointmentsThese figures are 16% higher than in March 2022. The overall increase in insolvencies is mainly the result of more CVLs and compulsory liquidations. HMRC has presented more winding up petitions than previously and is therefore the main driver of the increase in court led appointments (compulsory liquidations).Note: between 26 June 2020 and 31 March 2023, 42 companies were granted a moratorium and 20 had restructuring plans registered at Companies House. These procedures were created by the Corporate Insolvency and Governance Act 2020. Company Insolvencies (Scotland) March 2023 saw 104 company insolvencies in Scotland. Figures comprised of 61 CVLs, 40 compulsory liquidations, 2 administrations and 1 receivership. There were no CVAs. These statistics were 21% higher than in March 2022.Historically, the number of company insolvencies registered in Scotland has been driven by compulsory liquidations but since April 2020, there have been almost three times as many CVLS as compulsory liquidations.Between 26 June 2020 and 31 March 2023, there were no moratoriums obtained in Scotland and two companies had a restructuring plan registered at Companies House. The Corporate Insolvency and Governance Act 2020 created these two procedures. Company Insolvencies (Northern Ireland) In March 2023, there were 12 company insolvencies in Northern Ireland, comprising of 2 compulsory liquidation, 2 administrations and 8 CVLs. There were no receiverships or CVAs. Compared to March 2022, such numbers are 40% lower. Touching on individual insolvencies…. For UK figures, there were a total of 3,383 Debt Relief Orders (DROs) recorded in March 2023 (quite a rise compared to February 2023). When looking back to March figures of 2022, 2023 stats are 35% higher.There were 672 bankruptcies for England and Wales in March 2023. The records are made up of 565 debtor applications and 107 creditor petitions.Compared to March 2022, bankruptcies were 2% higher and debtor applications 3% higher. Creditor petitions were 1% lower than in March 2022.It was also found that there were 6,100 individual voluntary arrangements (IVAs) registered, on average, during the three months ending March 2023. This figure is 14% lower than the three-month period ending March 2022.When looking at the figures for Northern Ireland, March 2023 saw 176 individual insolvencies. Compared to March 2022 statistics, this is just 1% higher. 2023 March numbers consisted of 131 IVAs, 27 DROs and 18 bankruptcies.Find the full publication of statistics here.

The Insolvency Service has published the latest release of its monthly series to provide more up to date information on the number of companies and individuals who are unable to pay debts and enter formal insolvency procedures. The release supplements the Insolvency Service’s quarterly company and individual Insolvency National Statistics.The monthly series began when COVID-19 occurred, to assess the impact companies and individuals faced. The releases have continued since to get more in depth and timely data, along with the quarterly release.Comparisons will be made throughout, comparing to pre-pandemic levels (2020) and that of last year (2022). Company Insolvencies (UK) In February 2023 there was a total of 1,783 registered company insolvencies across England and Wales, further broken down as follows:1,505 creditors voluntary liquidations (CVLs) – 13% higher than that in February 2022 and 59% higher than in February 2020 158 compulsory liquidations – more than double that in February 2022, but 32% lower than in February 2020 108 administrations – similar to that in February 2022 but 27% lower than in February 2020 12 company voluntary arrangements (CVAs) – 4 times higher than that recorded in February 2022 but 37% lower than in February 2020 0 receivership appointmentsThese figures are 17% higher than in February 2022 and 33% higher than that in the same month three years before (pre-pandemic).The overall increase in insolvencies is mainly the result of more CVLs and compulsory liquidations. HMRC has presented more winding up petitions than previously and is therefore the main driver of the increase in court led appointments (compulsory liquidations).Note: between 26 June 2020 and 28 February 2023, 42 companies were granted a moratorium and 12 had restructuring plans registered at Companies House. These procedures were created by the Corporate Insolvency and Governance Act 2020. Company Insolvencies (Scotland) February 2023 saw 81 company insolvencies in Scotland. Figures comprised of 57 CVLs, 21 compulsory liquidations and 3 administrations. There were no receiverships or CVAs. These statistics were 11% higher than in February 2022, but 5% lower than in February 2020.Historically, the number of company insolvencies registered in Scotland has been driven by compulsory liquidations but since April 2020, there have been almost three times as many CVLS as compulsory liquidations.Between 26 June 2020 and 28 February 2023, there were no moratoriums obtained in Scotland and two companies had a restructuring plan registered at Companies House. The Corporate Insolvency and Governance Act 2020 created these two procedures. Company Insolvencies (Northern Ireland) In February 2023, there were 9 company insolvencies in Northern Ireland, comprising of 1 compulsory liquidation, 2 CVAs and 6 CVLs. There were no receiverships or administrations. Compared to February 2022, such numbers are 50% lower and compared to February 2020, 67% lower. Touching on individual insolvencies…. For UK figures, there were a total of 2,083 Debt Relief Orders (DROs) recorded in February 2023 – quite a rise compared to January 2023! When looking back to February figures of 2022, 2023 stats are 13% lower, and for 2020, 7% lower.There were 580 bankruptcies for England and Wales in February 2023. The records are made up of 486 debtor applications and 94 creditor petitions.Compared to February 2022, bankruptcies were 3% higher, but debtor applications 2% lower. Creditor petitions were 11% lower than in February 2022. When looking at 2020, figures were 63% lower for total bankruptcies, 64% lower for debtor applications and 55% lower for creditor petitions.It was also found that there were 5,627 individual voluntary arrangements (IVAs) registered, on average, during the three months ending February 2023. This figure is 12% lower than the three-month period ending February 2022 but close to that ending February 2020.When looking at the figures for Northern Ireland, February 2023 saw 111 individual insolvencies. Compared to February 2022 statistics, this is 31% lower and when looking at February 2020 statistics, 59% lower. 2023 February numbers consisted of 87 IVAs, 16 DROs and 8 bankruptcies.Find the full publication of statistics here.