Monthly Insolvency Statistics, April 2023
Monthly company and individual insolvency statistics for England and Wales, as well as Northern Ireland, and monthly company statistics for Scotland. For England and Wales, Breathing Space scheme statistics and the numbers of company moratoriums and restructuring plans are also included.
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The Insolvency Service is currently seeking views on proposed changes to our Official Statistics publications.
The consultation will be open from 16 May to 30 June 2023.
Main Messages for England and Wales
The number of registered company insolvencies in April 2023 was 1,685, 15% lower than in the same month in the previous year (1,988 in April 2022). However this was higher than levels seen while the Government support measures were in place in response to the coronavirus (COVID-19) pandemic and also higher than pre-pandemic numbers.
There were 183 compulsory liquidations in April 2023, which is nearly twice the number in April 2022. Numbers of compulsory liquidations have increased from historical lows seen during the coronavirus pandemic, partly as a result of an increase in winding-up petitions presented by HMRC.
In April 2023 there were 1,368 Creditors’ Voluntary Liquidations (CVLs), 23% lower than in April 2022. Numbers of administrations and Company Voluntary Arrangements (CVAs) were higher than in April 2022.
For individuals, 531 bankruptcies were registered, which was 5% lower than in April 2022, and less than half of pre-2020 levels.
There were 2,384 Debt Relief Orders (DROs) in April 2023, which was 24% higher than April 2022. Monthly DRO numbers may be volatile at present due to the introduction of new DRO hubs.
There were, on average, 6,336 Individual Voluntary Arrangements (IVAs) registered per month in the three-month period ending April 2023, which is 16% lower than the three-month period ending April 2022.
The numbers provided in this publication are not seasonally adjusted and changes between consecutive months may not indicate overall trends. Therefore, in this publication we compare to the same calendar month in the previous year. Seasonally adjusted figures that more accurately measure trends over time are available in the quarterly insolvency statistics.