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.
- The number of company insolvencies in England and Wales continued to decrease.
- This decrease was mainly driven by a decrease in compulsory liquidations, which fell to the lowest level since Q3 1989.
- The total number of people who became insolvent in England and Wales decreased compared with the same quarter in 2014, but increased compared with the previous quarter.
- This quarterly increase was driven by a rise in individual voluntary arrangements, the first such increase since Q2 2014.
- The number of bankruptcies and debt relief orders continued to decline.