Monthly UK insolvency statistics - April 2023

In response to the coronavirus (COVID-19) pandemic, the individual and company April 2023 insolvency statistics for England and Wales have been published by the Insolvency Service, together with related insolvency figures for Scotland and Northern Ireland.

Insolvency statistics for England and Wales following coronavirus lockdown

The Insolvency Service has been releasing monthly company and individual insolvency statistics for England and Wales and Northern Ireland, as well as monthly company statistics for Scotland, throughout the coronavirus (COVID-19) pandemic, and for a period thereafter.

Company insolvency statistics for England and Wales – April 2023

In April 2023 there was a total of 1,685 registered company insolvencies in England and Wales, which included:

1,368 creditors’ voluntary liquidations (CVLs)
183 compulsory liquidations
12 company voluntary arrangements (CVAs)
122 administrations
0 receiverships

Overall company insolvencies in April 2023 were 15% lower when compared to April 2022.

In April 2023:

CVLs were 23% lower when compared to April 2022
compulsory liquidations were twice the number in April 2022
CVAs were 20% higher when compared to April 2022
administrations were 12% higher when compared to April 2022

Between 26 June 2020 and 30 April 2023, 43 companies obtained a moratorium and 21 companies had a restructuring plan registered at Companies House – two new procedures created by the Corporate Insolvency and Governance Act 2020.

Individual insolvency statistics for England and Wales – April 2023

In April 2023, there were:

531 bankruptcies (418 debtor applications and 113 creditor petitions)
2,384 DROs
6,336 IVAs registered (using a three-month rolling average)

Bankruptcies

Bankruptcies in April 2023 were 5% lower than in April 2022, with debtor applications 10% lower and creditor petitions 18% higher.

Debt relief orders

The number of DROs in April 2023 were 24% higher than in April 2022. It’s noted that DRO numbers may be volatile at present due to the introduction of new DRO hubs.

Individual voluntary arrangements

As individual voluntary arrangement (IVA) numbers have been calculated using different methodology, they are presented separately to debt relief orders (DROs) and bankruptcies. Due to volatile data, the Insolvency Service provided three-month rolling averages for IVAs, which indicate what the overall trend of IVA registrations might look like.

IVAs in April 2023 were 16% lower when compared to the average number of registered IVAs during the three months ending April 2022.

Company insolvency statistics for Scotland – April 2023

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in April 2023 there were 114 company insolvencies in total, 24% higher than the number in April 2022.

Total corporate insolvencies in Scotland in April 2023 consisted of:

41 compulsory liquidations
64 CVLs
9 administrations
0 receivership appointments
0 CVAs

Company insolvency statistics for Northern Ireland – April 2023

In Northern Ireland in April 2023 there were 8 company insolvencies. This was 38% lower than the number in April 2022. They consisted of:

4 CVLs
2 compulsory liquidations
2 administrations
0 CVAs
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – April 2023

There were 110 individual insolvencies in Northern Ireland in April 2023. This was 32% lower when compared to April 2022. They consisted of:

85 IVAs
18 DROs
7 bankruptcies

Where can I see insolvency notices in The Gazette?

The Gazette is the primary source of both corporate insolvency and personal insolvency information in the UK and publishes this information in the form of insolvency notices, allowing transparency for the public, the credit industry and concerned individuals to quantify risk and inform creditors. You can view all corporate and personal insolvency notices on The Gazette website.

The Gazette also provides a data service which gives access to official intelligence on all UK businesses, corporate and personal insolvencies. Benefits of The Gazette’s data service include:

Bespoke reports - tailored around your specific business
Geo-targeted editions - available for specific geographical targeting (National, London, Belfast, Edinburgh)
Custom filters - specific custom attributes (company number, notice type, key terms)
Data at regular intervals - delivered at a rate to match your business needs (daily, weekly, monthly)

For more information on The Gazette’s data service, contact the team on 01603 985949 or email data@thegazette.co.uk.

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