Latest quarterly Insolvency Statistics
Wednesday, 31 July 2019
The latest quarterly Insolvency Statistics were released on 30 July 2019 by the Insolvency Service.
Personal Insolvency, which includes Bankruptcies, Individual Voluntary Arrangements (IVAs) and Debt Relief Orders (DROs), decreased in the quarter to June 2019 by 1.3% compared to the previous quarter. The fall of 1.3% was due to reduced numbers of IVAs and DROs but slightly offset by an increase in Bankruptcies.
However total personal insolvencies are still 7.2% higher than in 2018.
Company Insolvencies, which include Compulsory Liquidations, Creditor Voluntary Liquidations (CVLs), Administrations, Company Voluntary Arrangements (CVAs) and Administrative Receiverships, increased in the quarter to June 2019 by 2.6% compared to the previous quarter. Compared to the same quarter in 2018 the increase in company insolvencies is 11.9% being the highest level of Corporate Insolvencies in any quarter since quarter 1 of 2014.
The increase in Company Insolvencies is driven by CVLs which increased by 6.9% compared to the previous quarter.
With uncertainty about Brexit and proposed changes to HMRC preferential status in Insolvencies, are we about to see further increases in Insolvencies? Maybe the next quarter’s statistics to September 2019 will provide greater clarity.
The links to the full statistics are below: