Insolvency statistics released for June 2023

Posted By: on 27th July 2023

The number of registered company insolvencies in June 2023 was 2,163, 27% higher than in the same month in the previous year (1,698 in June 2022).

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.

  • Of the 2,163 registered company insolvencies in June 2023:
    • There were 1,759 CVLs, which is 21% higher than in June 2022;
    • 260 were compulsory liquidations, which is 77% higher than June 2022;
    • 14 were CVAs, which is 75% higher than June 2022;
    • There were 130 administrations, which is 44% higher than June 2022;
    • There were no receivership appointments.

Individuals

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.

 

 

 

Breathing Space Registrations

  • In June 2023 there were 7,936 breathing space registrations. This is 37% higher than the number in June 2022.Of the 7,936 Breathing Space registrations in June 2023:
    • There were 7,825 Standard breathing space registrations, which is 38% higher than the number in June 2022.
    • There were 111 Mental Health breathing space registrations, which is 31% higher than the number in June 2022.

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 for June 2023 published  18th July 2023 – see the full report here