Research and Statistics

In 2024, there were 23,872 registered company insolvencies, which included 18,840 creditors' voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs), and three receivership appointments. The overall number of corporate insolvencies in 2024 was 5% lower than in 2023, the greatest yearly figure since 1993.The reduction in overall firm insolvency numbers in 2024 was mostly driven by CVLs, which were 8% lower than the record high levels recorded in 2023. The number of obligatory liquidations grew by 14% from 2023, reaching its highest level since 2014. Administrations (increased 2%) and CVAs (up 9%) both exceeded 2023 levels.In 2024, one in every 191 firms on the firms House effective register (at a rate of 52.4 per 10,000 companies) becam insolvent, down from 57.2 per 10,000 in 2023. The 2024 insolvency rate is significantly lower than the peak of 113.1 per 10,000 enterprises experienced during the 2008-09 recession, despite the fact that 2023 and 2024 had comparable levels of insolvencies. This is because the number of businesses on the effective register has more than doubled.​Monthly Summary for December 2024 Following seasonal adjustments, the number of registered company insolvencies in England and Wales was 1,838 in December 2024, 6% lower than in November 2024 (1,962) and 14% lower than the same month the previous year (2,139 in December 2023). The number of corporate insolvencies remained significantly greater than those observed during the COVID-19 epidemic and between 2014 and 2019.Company insolvencies in December 2024 included 273 compulsory liquidations, 1,421 CVLs, 127 administrations, and 17 CVAs. There were no receivership appointments. Compulsory liquidations and CVAs were up from November 2024, while CVLs and administrations were down.There has been much comment lately about the number of increased compulsory liquidations being due to the increased taxes imposed by the government.  However, in our view, given that the overall insolvency rates have decreased, the most likely reason for these compulsory liquidations increase is a "mopping up" of the delinquent companies that have already stopped trading, owe tax, and failed to pay back bounce back and other loans following the pandemic.

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​After seasonal adjustment, the number of registered company insolvencies in England and Wales was 1,966 in November 2024, 13% higher than in October 2024 (1,743) and 12% lower than the same month in the previous year (2,243 in November 2023). The number of company insolvencies remained much higher than those seen both during the COVID-19 pandemic and between 2014 and 2019. ​Company Insolvencies Company insolvencies in November 2024 consisted of 254 compulsory liquidations, 1,565 creditors’ voluntary liquidations (CVLs), 132 administrations, 14 company voluntary arrangements (CVAs) and one receivership appointment. All types of company insolvency except for receivership appointments (which are rare) were higher than in October 2024.One in 189 companies on the Companies House effective register (at a rate of 52.9 per 10,000 companies) entered insolvency between 1 December 2023 and 30 November 2024. This was a decrease from the 57.3 per 10,000 companies that entered insolvency in the 12 months ending 30 November 2023. Insolvency rates are calculated on a 12-month rolling basis as a proportion of the total number of companies on the effective register. The 12-month rolling rates show longer term trends and reduce the volatility associated with estimates based on single months.While the insolvency rate has increased since the lows seen in 2020 and 2021, it remains much lower than the peak of 113.1 per 10,000 companies seen during the 2008-09 recession. This is because the number of companies on the effective register has more than doubled over this period.  CVLs In November 2024, CVLs accounted for 80% of all company insolvencies. The number of CVLs increased by 8% from October 2024 and was 15% lower compared to the same month last year (November 2023) after seasonal adjustment.In 2023, the annual number of CVLs reached its highest level since the start of the time series in 1960, continuing the year-on-year increases seen since 2021. Between 2017 and 2019, CVLs had been rising at approximately 10% per year, but during the COVID-19 pandemic, they fell to their lowest levels since 2007. Compulsory liquidations The seasonally adjusted number of compulsory liquidations in November 2024 was 37% higher than in October 2024 and 6% lower than in November 2023.The number of compulsory liquidations has increased from record low levels seen in 2020 and 2021, while restrictions applied to the use of statutory demands and certain winding-up petitions (leading to compulsory liquidations). In 2023, compulsory liquidations increased by 44% from 2022 but remained 4% lower than 2019 (pre-pandemic levels). Administrations The number of administrations in November 2024 was 36% higher than in October 2024 and 12% higher than in November 2023 after seasonal adjustment.Numbers of administrations increased during 2022 and 2023 from an 18-year annual low seen during the COVID-19 pandemic in 2021. Current levels are similar to those seen between 2015 and 2019. ​Find the full release here.

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The Insolvency Service has just released its Creditors’ Voluntary Liquidation (CVL) Research Report.  The purpose of this report was to ascertain whether the recent reforms in 2017 on the CVL process had, in fact, made the process more efficient and increased the returns to creditors.Analysis was performed on a randomly sampled dataset of 2,717 completed CVLs which started in 2017.Efficiency was assessed through three quantitative measures: time to complete the CVL, associated costs, and recovery rates for creditors.Time: 6% of the sampled cases were ongoing at the time of data collection. The median duration to complete a CVL was 712 days.Cost: The median cost, represented as fees relative to the estate's value, was 163%.Recovery Rate: The median recovery rate for all creditors was 0%, indicating that in many cases, creditors did not receive any return.One might ask why the median was used, as opposed to the mean, in these calculations.  This is mainly because in the random sample there may well be some very large company liquidations that would distort the statistics.Other interesting statistics that come out of the research are as followsMedian Pre appointment fees were £4000 see the chart below that shows total fees. The overall returns to creditors are very poor.  The charts below shows preferential creditors that in most cases will be employees and HMRC (post 2020) and Fixed charge creditors who are in fact the first in line showing virtually nil return​ ​This poor level of return is concerning as one of the liquidator's jobs is to try and liquidate the assets to repay creditors.  However, remember the company in question has gone into liquidation as it is unable to pay its creditors!  Most directors will try and put off the inevitable and borrow against any assets they may have or sell them before they enter liquidation.  The reality is that most companies do not have any liquid assets that can be easily sold to repay creditors.  Often assets of any value are costly to move or have a limited market value.  In addition, the liquidators have to do an investigation into the directors conduct to see if they should be disqualified. In addition, in the name of transparency, they have a duty to keep the creditors informed of the reasons for failure, and why they are not going to get any return.So, if CVLs offer such low returns to creditors there should be an alternative process that insolvency practitioners should be using and directors should be made aware of!Administrations are costly and mainly for larger businesses.  The alternative is of course the use of more informal deals with creditors such as Time to Pay Arrangements (TTPs) and the use of the Company Voluntary Arrangement (CVAs) insolvency rescue mechanism.  These are harder to implement than simply advising the company to liquidate and of course there must be an underlying profitable business there.  But surely there are companies out there that could pay off some of the debts over a time period of say, 3-5 years.  Even if the CVA or TTP lasts only a year or two it is signicantly better than a CVL that on this research gives Nil return to any creditor!  Remember a CVA doesn't even bind the fixed charge (secured creditor).The number of TTPs are not really recorded as there is no formal insolvency but the number of CVAs are and it is very low at some 15 or 20 a month.As a small firm that does the second highest number of CVAs, after Begbies Traynor who are the largest insolvency firm in the UK, we believe they are ridiculously underused.However using CVAs KSA Group has;Distributed £31m to creditors 2009-2022. This excludes secured debts and secured factoring facilities, much of which have been or will be repaid. Repaid £17.9m to HMRC between 2009 and 2023, remember this for the most part when HMRC was an unsecured creditor (2009-2020). That’s taxpayers money. Saved creditors money. Preserved 320 customers for thousands for suppliers, accountants and professional advisors.Ultimately, the main thing that should come out of this research is that Directors should act early and not bury their heads in the sand.  Also insolvency pratitioners should not be afraid of exploring other options for distressed businesses such as TTPs or CVAs.

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The October monthly insolvency statistics have been released. Company Insolvencies After seasonal adjustment, there were 1,747 company insolvencies in October 2024, 10% lower than in September 2024 and 24% lower than in October 2023. The decrease of 10% compared to September 2024 is less than the average absolute change of 12% between consecutive months over the past three years. Average monthly numbers so far in 2024 have been similar to 2023, which saw the highest annual number since 1993.Company insolvencies peaked during the 2008-09 recession, following the gradual decline seen over the early 2000s. Volumes rose during 2018 and 2019, before falling to the lowest monthly volumes on record during the COVID-19 pandemic. Company insolvencies then increased during 2021 and 2022, with 2023 seeing the highest annual number of company insolvencies since 1993. CVLs In October 2024, CVLs accounted for 83% of all company insolvencies. The number of CVLs decreased by 7% from September 2024 and was 24% lower compared to the same month last year (October 2023) after seasonal adjustment.In 2023, the annual number of CVLs reached its highest level since the start of the time series in 1960, continuing the year-on-year increases seen since 2021. Between 2017 and 2019, CVLs had been rising at approximately 10% per year, but during the COVID-19 pandemic, they fell to their lowest levels since 2007. Compulsory liquidations The seasonally adjusted number of compulsory liquidations in October 2024 was 14% lower than in September 2024 and 20% lower than in October 2023.The number of compulsory liquidations has increased from record low levels seen in 2020 and 2021, while restrictions applied to the use of statutory demands and certain winding-up petitions (leading to compulsory liquidations). In 2023, compulsory liquidations increased by 44% from 2022 but remained 4% lower than 2019 (pre-pandemic levels). Administrations The number of administrations in October 2024 was 35% lower than in September 2024 and 28% lower than in October 2023 after seasonal adjustment.Numbers of administrations increased during 2022 and 2023 from an 18-year annual low seen during the COVID-19 pandemic in 2021. Current levels are similar to those seen between 2015 and 2019. ​Find the full release here.

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The September monthly insolvency statistics have been released. Company Insolvencies Statistics report that in September 2024 there was a total of 1,973 registered company insolvencies in England and Wales, a 7% decrease compared to September 2023, yet a 2% increase compared to August 2024.Administrations and CVLs saw an increase  compared to last month, but for CVAs and Compulsory Liquidatio there was a decrese.Overall, creditors’ voluntary liquidations (CVLs) remained the most common tool used, comprising 80% of cases.No moratoriums or restructuring plans were registered at Companies House through September 2024.In the 12 months to date, the company liquidation rates was 55 per 10,000 companies on the effective register in England and Wales. This relates to 1 in 182 companies entering insolvency. This rate has remained pretty stable when comparing to the last few months.When exploring company insolvencies by industry, the majority of industries saw an increase in company insolvencies in the 12 months to 31 August 2024.  Notable changes are for Accommodation and Food Service and Information Technology.Scotland and Northern Ireland both saw a decrease in insolvencies in September 2024, being 16% and 24% respectively, compared to September 2023.Find the full release here.

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The August monthly insolvency statistics have been released. Here we share an overview. Company Insolvencies Statistics report that August 2024 showed a total of 1,953 registered company insolvencies in England and Wales, a 15% decrease compared to August 2023. Despite a decrease, these figures are still higher than the number of company insolvencies seen during the COVID-19 pandemic and between 2014-2019.Administrations, Compulsory Liquidations and CVLs faced a decrease in usage in August 2024. Company Voluntary Arrangements (CVAs) were the only insolvency tool to experience an increase, that being an 82% increase compared to August 2023 levels.Nonetheless, creditors’ voluntary liquidations (CVLs) remained the most common tool used, comprising 79% of cases.Registered at Companies House through August 2024, there was just one restructuring plan and two moratoriums.Scotland and Northern Ireland both saw a decrease in insolvencies in August 2024, being 9% and 8% respectively, compared to August 2023.With CVAs on the rise is is hopeful that of the many companies which are facing financial struggles, a rescue is on the cards and trading can continue.Find the full release here.

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The July monthly insolvency statistics have been released. Here we provide a summary overview. Company Insolvencies The July 2024 company insolvency statistics for England and Wales showed a total of 2,191 insolvencies, a 16% increase compared to July 2023.Creditors’ voluntary liquidations (CVLs) remained the most common, comprising 77% of cases.Compulsory liquidations also saw a rise, reaching their highest level since 2018. Sectors such as construction and retail were notably impacted.Scotland saw a 21% year-on-year increase in insolvencies, while Northern Ireland’s figures remained stable. The overall trend indicates a gradual increase in insolvency cases across the UK.Just 25 companies were rescued by using Company Voluntary Arrangements (CVAs) in July.  This is unfortunate as surely it is possible that some of the 1000s of companies that went insolvent last month some might have been able to survive by using a CVA? CVLs The number of CVLs decreased by 9% from June 2024 but was 15% higher than during the same month last year (July 2023), after seasonal adjustment. Compulsory Liquidations The number of seasonally adjusted compulsory liquidations in July 2024 was the highest monthly number since August 2018, 5% higher than in June 2024 and 27% higher than in July 2023.In 2023, there were 44% more compulsory liquidations than in 2022, but they were still 4% fewer than in 2019 (before to the pandemic). The numbers have risen from the all-time lows observed in 2020 and 2021, when limitations were placed on the use of winding-up petitions and statutory demands, which resulted in compulsory liquidations. Administrations The number of administrations in July 2024 was 10% lower than in June 2024 but 6% higher than in July 2023, after seasonal adjustment.High profile administrations have been few and far between these last few months with Carpetright being the most noteable exception.It does seem that In the 12 months to June 2024 compared to the previous 12-month period, insolvencies increased by the most in the hospitality sector.  The increase was c.15%This is not surprising given that this includes the period of high inflation in the last half of last year.

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The second monthly insolvency statistics have been released for 2024, focusing on February. Here we provide a detailed overview. Company Insolvencies February 2024 saw 2,102 registered company insolvencies through England and Wales. This is an increase of 17% when compared to the amount registered in the same month of 2023. It is also higher compared to January 2024 figures and that when Government support measures were in place in response to the COVID-19 pandemic.The company insolvencies for February 2024 consisted of:1,707 Creditors Voluntary Liquidations (CVLs) – 12% higher than in February 2023 217 Compulsory Liquidations – 35% higher than in February 2023 166 Administrations – 54% higher than in February 2023 12 Company Voluntary Arrangements (CVAs) – identical to the amount in February 2023There were no receiverships registered.A higher number of Compulsory Liquidations, CVLs and Administrations seem to be the driving force of the increase in company insolvency statistics compared to February 2023.It is important to note that now, company insolvency numbers have returned to and exceeded pre-pandemic levels.Between 26 June 2020 and 29 February 2024, 52 moratoriums were obtained in England & Wales, along with 22 companies having a restructuring plan registered at Companies House.Moving on to the statistics for Scotland and February 2024 saw 94 registered company insolvencies – quite similar to the levels noted in January 2024. Compared to February 2023 figures, the same month of 2024 saw an increase of 9% in registered company insolvencies. February 2024 figures are made up of 58 CVLs, 33 compulsory liquidations and 3 administrations. No CVAs or receiverships were recorded.Historically, compulsory liquidations have led the way for the company insolvencies in Scotland. But since April 2020, CVL numbers remained higher than compulsory liquidation numbers.Between 26 June 2020 and 29 February 2024, no moratoriums were obtained for companies in Scotland. Two companies did register a restructuring plan at Companies House.For Northern Ireland, 26 company insolvencies were registered in February 2024 – this being twice as many as recorded in February 2024. Registrations consisted of 14 compulsory liquidations, 9 CVLs, 3 administrations. No receiverships or CVAs were recorded for this period. Individual Insolvencies England and Wales had 10,136 Individual Insolvencies registered in February 2024. This is 23% more than what was registered in February 2023 and also a significant rise compared to January 2024. It is thought that the reason for the increase is the all tools; DROs, bankruptcies and IVAs, saw an increase in this period.Delving deeper, the registrations are broken up into:3,007 Debt Relief Orders (DROs) – 44% higher than in February 2023 6,420 Individual Voluntary Arrangements (IVAs) – 16% higher than in February 2023 – an unusually high amount due to some IVAs being registered only now, but approved 2 or more months earlier 709 Bankruptcies (split as 594 debtor applications and 115 creditor petitions) – 16% higher than in February 2023Northern Ireland had 112 Individual Insolvencies registered in February 2024 – identical to the amount noted in January 2024. Numbers are made up of 90 IVAs, 11 DROs and 21 bankruptcies. Total numbers are 13% lower than the same month a year previous. Comparing to pre-pandemic levels, since March 2020, levels of individual insolvencies have been lower in Northern Ireland.You can refer to the full report here.

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The first monthly insolvency statistics have been released for 2024, focusing on January. Here we provide a detailed overview. Company Insolvencies January 2024 saw 1,769 registered company insolvencies through England and Wales. This is an increase of 5% when compared to the amount registered in the same month of 2023. Compared to December 2023 figures it is a slight drop.The company insolvencies consisted of:1,294 Creditors Voluntary Liquidations (CVLs) – 6% lower than in January 2023 339 Compulsory Liquidations – 66% higher than in January 2023 120 Administrations – 40% higher than in January 2023 16 Company Voluntary Arrangements (CVAs) – 14% higher than in January 2023There were no receiverships registered.A higher number of Compulsory Liquidations and Administrations seem to be the driving force of the increase in company insolvency statistics compared to January 2023. CVAs also saw an increase.Compulsory Liquidations and Administration levels fell, by 18% and 8% respectively.It is important to note that now, company insolvency numbers have returned to and exceeded pre-pandemic levels.Between 26 June 2020 and 31 January 2024, 52 moratoriums were obtained in England & Wales, along with 22 companies having a restructuring plan registered at Companies House.Moving on to the statistics for Scotland and January 2024 saw 88 registered company insolvencies – quite a drop compared to December 2023 and a 19% decrease compared to January 2023 figures. January 2024 figures are made up of 46 CVLs, 34 compulsory liquidations, 7 administrations and 1 CVA. No receiverships were recorded.Historically, compulsory liquidations have led the way for the company insolvencies in Scotland. But since April 2020, CVL numbers remained higher than compulsory liquidation numbers.Between 26 June 2020 and 31 January 2024, no moratoriums were obtained for companies in Scotland. Two companies did register a restructuring plan at Companies House.For Northern Ireland, 30 company insolvencies were registered in January 2024 – this being 114% higher than that in January 2023 and just a total of 5 more than the recorded figure for December 2023. Registrations consisted of 8 compulsory liquidations, 17 CVLs, 4 CVAs and 1 administration. No receiverships were recorded for this period. Individual Insolvencies England and Wales had 8,089 Individual Insolvencies registered in January 2024. This is 4% more than what was registered in January 2023. It is thought that the reason for the increase is the rise of DROs and bankruptcies, as IVAs decreased.Delving deeper, the registrations are broken up into:2,793 Debt Relief Orders (DROs) – 60% higher than in January 2023 4,528 Individual Voluntary Arrangements (IVAs) – 16% lower than in January 2023 768 Bankruptcies (split as 606 debtor applications and 162 creditor petitions) – 20% higher than in January 2023Northern Ireland had 112 Individual Insolvencies registered in January 2024. Numbers are made up of 76 IVAs, 16 DROs and 20 bankruptcies. Total numbers are 7% lower than the same month a year previous. Comparing to pre-pandemic levels, since March 2020, levels of individual insolvencies have been lower in Northern Ireland.You can refer to the full report here.

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The quarterly company insolvency statistics have been released, covering Q4 2023 (October to December). Since this dates the final quarter of the year, an annual summary can be noted: 2023 saw the highest annual number of company insolvencies since 1993. The total of 25,158 registered company insolvencies is broken down into:20,577 Creditors Voluntary Liquidations (increased by 9% from 2022) 2,827 Compulsory Liquidations (increased by 44% from 2022) 1,567 Administrations (increased by 27% from 2022) 185 Company Voluntary Arrangements (increased by 67% from 2022) 2 Receiverships One for every 186 active companies fell into insolvent liquidation in 2023, making the liquidation rate 53.7 per 10,000 active companies. This was an increase compared to 2022s recording. In fact, the rate in 2023 was the highest level since Q3 2014.It should be noted that though levels of each procedure rose compared to 2022, many remained below levels seen pre-pandemic. Taking it back to a quarterly summary: Q4 2023 recorded 6,788 company insolvencies. This splits into 5,578 Creditors Voluntary Liquidations (CVLs), 780 Compulsory Liquidations, 379 Administrations, 50 Company Voluntary Arrangements (CVAs) and 1 Receivership.Overall, the total amount of company insolvencies in Q4 2023 was 9% higher than that in Q3 2023, and 14% higher than in Q4 2022. Looking more historically, this quarter saw the highest quarterly total insolvencies since Q4 2008.Being even more specific, the highest quarterly number of CVLs was recorded since 1960. Compulsory Liquidations increased by 6% compared to Q3 2023 and Q4 2022, but Administrations fell 17% compared to Q3 2023, though still remained higher than levels in 2021 and 2022. CVAs rose by 22% compared to Q3 2023, and was 100% up on Q4 2022 numbers.Between 26 June 2020 and 31 December 2023, 49 companies obtained a moratorium and 22 companies had a restructuring plan registered at Companies House.In terms of liquidation rates, 2023 Q4 had a rate of 53.7 company insolvencies per 10,000 active companies. This was 1.3 higher than in Q3 2023 and 4.1 higher than in Q4 2022.Though company insolvency volumes hit a 30-year high in 2023, the amount of companies on the companies house register has increased over time. This means the 2023 rate remained lower than the peak rate of 94.8 insolvencies per 10,000 active companies during the 2008-09 recession. Company Insolvencies per Industry The five industries which experienced the highest number of insolvencies in 2023 are as follows:Construction (4,371…responsible for 18% of cases with industry captured) Wholesale and retail trade; repair of motor vehicles and motorcycles (3,929…responsible for 16% of cases with industry captured) Accommodation and food service activities (3,727…responsible for 15% of cases with industry captured) Administrative and support service activities (2,299…responsible for 9% of cases with industry captured) Professional, scientific and technical activities (2,001…responsible for 8% of cases with industry captured)Looking into all of the large industries, an increase was noticed in insolvencies registered in 2023 compared to 2022. Company Insolvency in Scotland Scotland recorded 314 total company insolvencies in Q4 2023 – just one more than the same quarter in 2022.Figures are broken down into 196 Company Voluntary Liquidations, 105 Compulsory Liquidations, 12 Administrations and 1 Company Voluntary Arrangement.Historically the volume of company insolvencies registered in Scotland has been driven by compulsory liquidations. However, during the coronavirus pandemic, almost three times as many CVLs as compulsory liquidations were recorded. Through 2023, CVL numbers were more than 1.5 times higher than the amount of compulsory liquidations.Between 26 June 2020 and 31 December 2023, no companies obtained a moratorium but 2 companies did have a restructuring plan registered at Companies House.In terms of liquidation rate for 2023, Scotland’s was 51.6 per 10,000 active companies. This is 5.9 higher than 2022s rate. Company Insolvency in Northern Ireland Northern Ireland recorded 81 total company insolvencies in Q4 2023 – an increase of 62% compared to the same quarter in 2022.Figures are broken down into 28 Company Voluntary Liquidations, 33 Compulsory Liquidations, 7 Administrations and 3 Company Voluntary Arrangements.In terms of liquidation rate for 2023, Northern Ireland’s was 25.5 per 10,000 active companies. This is 1.6 lower than 2022s rate.Please refer to the full report here.

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The monthly insolvency statistics have been released for the month of December 2023.Overall it looks like the number of insolvencies are pretty flat compared to last month.  Of course the actual number of insolvencies isn't the whole story as some companies are much bigger than others.In the last few months there haven't been any larger companies in financial trouble with only Wilko going bust back in August.  At the beginning of this year we are hearing about other larger businesses in trouble.  Superdry have just turned to emergency funding to keep themselves afloat and at our end we are seeing some larger companies asking for help.  This may be due to the inflationary environment which has added to the cost of labour and materials.  In addition these larger companies have taken out loans at rock bottom rates and now beginning to see higher rates. Larger companies tend to resist this pressure for longer but eventually they need to ask for help and cut costs or raise prices (if possible) Company Insolvencies December 2023 saw 2,002 registered company insolvencies through England and Wales. This is an increase of 2% when compared to the amount registered in the same month of 2022. This is also higher than figures during the pandemic and pre-pandemic. Compared to November 2023 figures it is a slight drop.The company insolvencies consisted of:1,731 Creditors Voluntary Liquidations (CVLs) 153 Compulsory Liquidations 103 Administrations 15 Company Voluntary Arrangements (CVAs)There were no receiverships registered.CVLs (5% higher than in Dec-22) and CVAs (50% higher than in Dec-22) appear to be the drivers of the increase in company insolvencies, compared to December 2022. Compulsory Liquidations and Administration levels fell, by 18% and 8% respectively.Between 26 June 2020 and 31 December 2023, 49 moratoriums were obtained in England & Wales, along with 22 companies having a restructuring plan registered at Companies House.Moving on to the statistics for Scotland and December 2023 saw 108 registered company insolvencies (almost exact to the recorded figure for November 2023). This is made up of 65 CVLs, 40 compulsory liquidations and 3 administrations. No CVAs or receiverships were recorded.Historically, compulsory liquidations have led the way for the company insolvencies in Scotland. But through 2023 CVL numbers remained more than 1.5 times higher than compulsory liquidation numbers.Between 26 June 2020 and 31 December 2023, no moratoriums were obtained for companies in Scotland. Two companies did register a restructuring plan at Companies House.For Northern Ireland, 25 company insolvencies were registered in December 2023 – this being 67% higher than that in December 2022 and almost identical to the figure for November 2023. Registrations consisted of 6 compulsory liquidations, 17 CVLs, 1 administration and 1 CVA. No receiverships were recorded for this period. Individual Insolvencies England and Wales had 6,584 Individual Insolvencies registered in December 2023. This is 20% less than what was registered in December 2022. It is thought that the reason for the decline is the lack of IVAs, as DROs and bankruptcies increased.Delving deeper, the registrations are broken up into:2,472 Debt Relief Orders (DROs) – 25% higher than in December 2022. 3,616 Individual Voluntary Arrangements (IVAs) – 38% lower than in December 2022. 496 Bankruptcies (split as 386 debtor applications and 110 creditor petitions) – 22% higher than in December 2022.Northern Ireland had 76 Individual Insolvencies registered in December 2023. Numbers are made up of 60 IVAs, 6 DROs and 10 bankruptcies. Total numbers are 39% lower than the same month a year previous.You can refer to the full report here.

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