The Insolvency Service has released insolvency statistics for July to September 2015, detailing insolvency in England and Wales for companies and individuals.
- The number of company insolvencies in England and Wales continued to decrease.
- This decrease was mainly driven by a decrease in compulsory liquidations, which fell to the lowest level since Q3 1989.
- The total number of people who became insolvent in England and Wales decreased compared with the same quarter in 2014, but increased compared with the previous quarter.
- This quarterly increase was driven by a rise in individual voluntary arrangements, the first such increase since Q2 2014.
- The number of bankruptcies and debt relief orders continued to decline.