Monthly Insolvency Statistics, December 2021
Monthly company and individual insolvency statistics for England and Wales, as well as Northern Ireland, and monthly company statistics for Scotland, in response to the coronavirus (COVID-19) pandemic. For England & Wales, Breathing Space scheme statistics are also included. For England & Wales and Scotland, the numbers of company moratoriums and restructuring plans are also included.
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The number of registered company insolvencies in December 2021 was 1,486:
- 20% higher than the number registered in the same month in the previous year (1,237 in December 2020), and
- 33% higher than the number registered two years previously (pre-pandemic; 1,120 in December 2019).
In December 2021 there were 1,365 Creditors’ Voluntary Liquidations (CVLs), which is 37% higher than in December 2020, and 73% higher than in December 2019. Other types of company insolvencies, such as compulsory liquidations, remained lower than before the pandemic.
For individuals, 434 bankruptcies were registered, which was 47% lower than December 2020 and 60% lower than December 2019.
There were 1,872 Debt Relief Orders (DROs) in December 2021. Following changes to the eligibility criteria on 29 June 2021 including an increase in the level of debt at which people can apply for a DRO from £20,000 to £30,000, DRO numbers were higher between July and December 2021 than in previous months since the start of the COVID-19 pandemic. The number of DROs registered in December 2021 was 51% higher than December 2020 but remained lower than pre-pandemic levels (10% lower than in December 2019).
There were, on average, 6,648 IVAs registered per month in the three-month period ending December 2021, which is 16% lower than the three-month period ending December 2020 but 15% higher than the three-month period ending December 2019.
Note that the IVA series is historically volatile as it is based on date of registration at the Insolvency Service (see the Methodology and data quality section for more information).
Between the launch of the Breathing Space scheme on 4 May 2021, and 31 December 2021, there were 41,127 registrations, comprised of 40,503 Standard breathing space registrations and 624 Mental Health breathing space registrations.