Monthly Insolvency Statistics, August 2022
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 August 2022 was 1,933:
- 43% higher than in the same month in the previous year (1,348 in August 2021), and
- 42% higher than the number registered three years previously (pre-pandemic; 1,365 in August 2019).
In August 2022 there were 1,662 Creditors’ Voluntary Liquidations (CVLs), 33% higher than in August 2021 and 73% higher than August 2019. Numbers for other types of company insolvencies, such as compulsory liquidations, remained lower than before the coronavirus (COVID-19) pandemic, although there were almost four times as many compulsory liquidations in August 2022 as in August 2021, and the number of administrations was more than twice as high as a year ago.
For individuals, 565 bankruptcies were registered, which was 10% lower than in August 2021 and 58% lower than August 2019.
There were 1,932 Debt Relief Orders (DROs) in August 2022, which was 12% higher than August 2021 but similar to the pre-pandemic comparison month (August 2019).
There were, on average, 7,340 IVAs registered per month in the three-month period ending August 2022, which is 5% higher than the three-month period ending August 2021, and 8% higher than the three-month period ending August 2019. IVA numbers have ranged from around 6,300 to 7,800 per month over the past year.
There were 6,058 Breathing Space registrations in August 2022, which is 25% higher than the number registered in August 2021. 5,971 were Standard breathing space registrations, which is 25% higher than in August 2021, and 87 were Mental Health breathing space registrations, which is 30% higher than the number in August 2021.