The latest data on company and individual insolvencies have been published today. The statistics show figures for both the last quarter of the year and the overall figures for the year.
The interim Chief Executive at the Insolvency Service, Graham Horne, said:
Today’s figures show the lowest number of personal insolvencies for some years. It is also good to see that more debtors have been able to reach agreements with those to whom they owe money through the use of Individual Voluntary Arrangements (IVAs).
Corporate insolvencies have also dropped, especially the number of administrations, which are at their lowest since 2004.