16% in Company Insolvencies
UK insolvencies rise 16%
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 16% in September when compared to the same month in the previous year (1,453 in September 2021), and 11% higher than the number registered three years previously (pre-pandemic; 1,508 in September 2019).
In September 2022 there was a total of 1,679 company insolvencies in England and Wales, which included:
- 1,379 creditors’ voluntary liquidations (CVLs)
- 204 compulsory liquidations
- 85 administrations
- 11 company voluntary arrangements (CVAs)
- 0 receiverships
The 1,379 Creditors’ Voluntary Liquidations (CVLs) was 4% higher than in September 2021 and 25% higher than September 2019.
204 were compulsory liquidations, which is 538% (6.4 times) higher than September 2021, but 10% lower than September 2019, 11 were CVAs, which is 8% lower than September 2021 and 50% lower than September 2019.
85 administrations were recorded, which is 5% higher than September 2021 but 47% lower than September 2019; and there were no receivership appointments
