Monthly Insolvency Statistics, April 2022
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 and Wales, Breathing Space scheme statistics and the numbers of company moratoriums and restructuring plans are also included.
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Due to a temporary data reporting system issue, data from one working day of April 2022 is missing and numbers are therefore likely to be revised upwards in next month’s release. This includes data for all individual insolvencies in England and Wales, as well as compulsory liquidations in England and Wales.
The number of registered company insolvencies in April 2022 was 1,991:
- More than double the number registered in the same month in the previous year (925 in April 2021), and
- 39% higher than the number registered three years previously (pre-pandemic; 1,429 in April 2019).
In April 2022 there were 1,777 Creditors’ Voluntary Liquidations (CVLs), more than double the number in April 2021 and 74% higher than April 2019. Numbers for other types of company insolvencies, such as compulsory liquidations, remained lower than before the pandemic, although there were three times as many compulsory liquidations in April 2022 compared to April 2021, and the number of administrations was 51% higher than a year ago.
For individuals, 530 bankruptcies were registered, which was 36% lower than in April 2021 and 64% lower than April 2019.
There were 1,708 Debt Relief Orders (DROs) in April 2022, which was 20% higher than in April 2021 and 29% lower than the pre-pandemic comparison month (April 2019). This increase is linked to 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.
There were, on average, 7,516 IVAs registered per month in the three-month period ending April 2022, which is 10% higher than the three-month period ending April 2021, and 22% higher than the three-month period ending April 2019. IVA numbers have ranged from around 6,300 to 7,500 per month over the past year.
Between the launch of the Breathing Space scheme on 4 May 2021, and 30 April 2022, there were 63,856 registrations, comprised of 62,843 Standard breathing space registrations and 1,013 Mental Health breathing space registrations.