Monthly Insolvency Statistics, June 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 England and Wales in June 2023 was 2,163, 27% higher than in the same month in the previous year (1,698 in June 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 260 compulsory liquidations in June 2023, 77% higher than in June 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 June 2023 there were 1,759 Creditors’ Voluntary Liquidations (CVLs), 21% higher than in June 2022. Numbers of administrations and Company Voluntary Arrangements (CVAs) were also higher than in June 2022.
For individuals, 643 bankruptcies were registered, which was 29% higher than in June 2022, but less than half of pre-2020 levels.
There were 2,320 Debt Relief Orders (DROs) in June 2023, which was 21% higher than June 2022. Monthly DRO numbers between April and June 2023 were similar to pre-2020 levels.
There were, on average, 6,026 Individual Voluntary Arrangements (IVAs) registered per month in the three-month period ending June 2023, which is 22% lower than the three-month period ending June 2022. IVA numbers in the first half of 2023 were lower than in the first half of 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.