The latest official quarterly personal and corporate statistics are released – covering January to March 2014
Statistics for January to March 2014 show that the number of company liquidations increased by 4.8% compared with October to December 2013, and by 4.9% compared with January to March 2013.
Within this, the number of compulsory liquidations increased by 53.1% in January to March 2014 compared with the previous quarter. This large increase appears to be because of an unusually low number of compulsory liquidations in October to December 2013 - the data for January to March 2014 is in line with otherwise fairly stable figures seen since 2012.
Total individual insolvencies decreased by 0.3% in January to March 2014 compared to the same period in 2013. Bankruptcies decreased by 15% over this period, and debt relief orders decreased by 9.3%. The number of individual voluntary arrangements (IVAs) increased by 14.3%, with IVAs now making up over half of all individual insolvencies.
Other statistics on insolvencies in England and Wales show that:
in January to March 2014, the number of company receiverships decreased compared with the same period in 2013, but the number of administrations increased and company voluntary arrangements remained level
in the 12 months ending March 2014, one in 167 active companies (or 0.6% of all active registered companies) went into liquidation, compared with one in 153 in the 12 months ending March 2013
in the 12 months ending March 2014, one in 444 adults (or less than 0.25% of the adult population) became insolvent, compared with one in 421 in the 12 months ending March 2013
Related statistics for Scotland and Northern Ireland show that:
company liquidations in Scotland in January to March 2014 increased by 109.7%, compared with the same period in 2013. The number of individual insolvencies decreased by 14%
company liquidations in Northern Ireland in January to March 2014 increased by 32.7%, compared with the same period in 2013. The number of individual insolvencies increased by 0.5%
Published: 29 April 2014
From: The Insolvency Service