Monthly Insolvency Statistics, July 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 number of registered company insolvencies in July 2023 was 1,727, 6% lower than in the same month in the previous year (1,831 in July 2022). 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 248 compulsory liquidations in July 2023, 81% higher than in July 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 July 2023 there were 1,336 Creditors’ Voluntary Liquidations (CVLs), 17% lower than in July 2022. Numbers of administrations and Company Voluntary Arrangements (CVAs) were higher than in July 2022.
For individuals, 620 bankruptcies were registered, which was 14% higher than in July 2022, but less than half of pre-2020 levels.
There were 2,667 Debt Relief Orders (DROs) in July 2023, which was 45% higher than July 2022. Monthly DRO numbers between April and July 2023 were slightly higher than pre-2020 levels.
There were, on average, 5,659 Individual Voluntary Arrangements (IVAs) registered per month in the three-month period ending July 2023, which is 26% lower than the three-month period ending July 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.