Insolvency statistics released for December 2024
The insolvency statistics released for November show that of the 1,838 registered company insolvencies:
- There were 273 compulsory liquidations
- 1,421 creditors’ voluntary liquidations (CVLs)
- 127 administrations
- 17 company voluntary arrangements (CVAs).
Individual Insolvencies
After seasonal adjustment, 10,050 individuals entered insolvency in England and Wales in December 2024. This was similar to November 2024 and 23% higher than in December 2023.
The individual insolvencies consisted of
- 549 bankruptcies
- 3,473 debt relief orders (DROs)
- 5,73 individual voluntary arrangements (IVAs)
- The 6,028 IVAs (after seasonal adjustment) registered in December 2024 was 36% higher than in December 2023, and 4% higher than in November 2024.
- In 2024, one in 415 adults in England and Wales entered insolvency (at a rate of 24.1 per 10,000 adults). This is higher than the rate of 21.4 per 10,000 adults (one in 467) who entered insolvency in 2023.
Debt Relief Orders
Individual Voluntary Arrangements
Breathing Space Registrations
- There were 5,650 breathing spaces registered under the Debt Respite Scheme in December 2024. This is 2% lower than in December 2023. Of the 5,650 breathing space registrations, 5,563 were Standard breathing space registrations and 87 were Mental Health breathing space registrations. Between the start of the scheme in May 2021 and 31 December 2024, StepChange Debt Charity registered 59% of breathing spaces.
We publish a summary of the reports here each month. For advice relating to support, insolvency or recovery options, please contact Isobel Brett for further information and guidance.
* This content and data was reported in full in the Insolvency Service Statistics. See the full report here.