Company Insolvency Statistics: October to December 2020
Statistics on new company insolvencies in England and Wales, and related statistics for Scotland and Northern Ireland
Applies to England, Scotland and Wales
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Details
Correction notice
Following publication of the accompanying tables at 9:30am on 29th January it was identified that some of the underlying company insolvency numbers were incorrect. The errors were a result of a processing error and affected some of the numbers in Tables 1c, 1d and 3b. The errors were corrected and the tables were re-published at midday on 29th January. We apologise for any inconvenience caused.
Release Information
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) .
Statistics are presented separately for England and Wales, Scotland, and Northern Ireland because of differences in legislation and policy.
Main messages
Company Insolvencies in Q4 2020
Overall numbers of company insolvencies in England and Wales increased in comparison to Q3 2020, yet they were lower than during the same period in the previous year.
The rise in comparison to Q3 2020 was driven by an increase in creditors’ voluntary liquidations.
There were fewer compulsory liquidations and administrations during Q4 than Q3, while company voluntary arrangements increased but remained low.
All insolvency procedures, except company voluntary arrangements, were lower in Q4 2020 than during the same period last year.
Company insolvencies in 2020
Total company insolvencies decreased in 2020 to the lowest annual level since 2007.
This was mainly driven by a drop in creditors’ voluntary liquidations, which dropped to their lowest level since 2007.
Numbers of all other company insolvency procedures fell in 2020, except administrative receivership appointments, which remain low.
The reduction in company insolvencies in 2020 compared with 2019 was likely to be partly driven by Government measures put in place in response to the coronavirus (COVID 19).
Last updated 29 January 2021 + show all updates
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Following publication of the accompanying tables at 9:30am on 29th January it was identified that some of the underlying company insolvency numbers were incorrect. The errors were a result of a processing error and affected some of the numbers in Tables 1c, 1d and 3b. The errors were corrected and the tables were re-published at midday on 29th January. We apologise for any inconvenience caused.
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First published.