Insolvency Statistics, April to June 2016
Statistics on new corporate and individual insolvencies in England and Wales, and related statistics for Scotland and Northern Ireland.
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Details
This statistics release contains the latest data on company insolvency (companies which are unable to pay debts and enter liquidation, or enter administration or other company rescue process) and individual insolvency (people who are unable to pay debts and enter formal procedures).
Statistics are presented separately for England and Wales, Scotland, and Northern Ireland because of differences in legislation and policy.
Main messages
Companies
- Total company Insolvencies were lower than the previous quarter and also decreased on the year.
- This decrease was mainly driven by a decrease in compulsory liquidations. Other types of insolvency remained fairly stable.
People
- Total individual insolvencies increased for the fourth consecutive quarter, driven primarily by an increase in individual voluntary arrangements.
- Debt relief orders also increased, because of a change to the eligibility criteria.
- The effect of the change from court-based to online bankruptcy applications is not yet clear from the statistics.
Revisions to statistics on company insolvencies by industry
In this edition, the statistics have been revised due to a data processing error that has now been corrected. The revisions affect all types of company insolvency, and mainly affects industry breakdowns up to and including 2012 Q4. Totals are not affected: the effect of the revisions has been to move cases from one industry classification to another. Further information can be found in section 2.3, and a table of revisions can be is provided on this page.
Breach of the Code of Practice
During an audit of pre-release access to these statistics, it was found that some officials had received access to these statistics without that access having been approved by the BEIS Head of Profession for Statistics. A breach report has been submitted to the UK Statistics Authority and will be published on their website: https://www.statisticsauthority.gov.uk/publications-list/?keyword=&type=breach-report
Last updated 13 January 2020 + show all updates
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Minor punctuation change to title for consistency
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Code of Practice Breach information added
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First published.