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 underlying number of insolvencies increased in Q3 2018 both on the previous quarter and on the same quarter in 2017.
This was driven by a rise in underlying creditors’ voluntary liquidations which rose to their highest level since Q1 2012.
- Total individual insolvencies fell in Q3 2018 from a six-year high in Q2 2018
- This was driven by a decrease in individual voluntary arrangements and was offset by increases in bankruptcies and debt relief orders