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.
- Total company insolvencies were slightly higher than the previous quarter and also increased on the year. The trend for the past year has been broadly flat.
Total individual insolvencies increased for the fifth consecutive quarter, driven primarily by an increase in individual voluntary arrangements.
Bankruptcies increased this quarter. It is likely that changes to the bankruptcy application process have affected the number of bankruptcies.
Debt relief orders decreased this quarter, but were higher than a year ago because of a change to eligibility criteria.
Commenting on the statistics, Insolvency Service chief executive Sarah Albon said:
Living with unsustainable debt is very distressing and it important that people take action so that they move on with their lives. We are monitoring the impact of introducing online applications for bankruptcy and consolidation within the debt assistance sector to ensure the solutions are operating as intended.