Insolvency statistics released for April 2023
The number of registered company insolvencies in April 2023 was 1,685
- 15% lower than the number in April 2022
The decrease in company insolvencies compared to the same month last year was driven by a decrease in the number of CVLs, which are the most common type of company insolvency. Numbers of all other types of company insolvency increased in comparison to the same month last year. The increase in compulsory liquidations is partly as a result of an increase in winding-up petitions presented by HMRC.
Of the 1,685 registered company insolvencies in April 2023:
- There were 1,368 CVLs, which is 23% lower than in April 2022;
- 183 were compulsory liquidations, which is almost twice the number in April 2022;
- 12 were CVAs, which is 20% higher than April 2022;
- There were 122 administrations, which is 8% higher than April 2022;
- There were no receivership appointments.
Individuals
There were 2,384 DROs and 531 bankruptcies in April 2023 in England & Wales.
The bankruptcies were made up of 418 debtor applications and 113 creditor petitions. Over the past year there has been an average of 562 bankruptcies per month, 60% lower than the 2019 (pre-pandemic) average of 1,395.
Bankruptcies were 5% lower than in April 2022. Debtor applications were 10% lower but creditor petitions were 18% higher than April 2022.
The number of DROs in April 2023 was 24% higher than April 2022. DRO numbers may be volatile at present due to the introduction of new DRO hubs.
There were, on average, 6,336 IVAs registered per month in the three-month period ending April 2023, 16% lower than for the three-month period ending April 2022. IVA numbers so far in 2023 have been lower than 2022, which had a record high annual number of IVAs.
Breathing Space Registrations
- In April 2023 there were 6,613 breathing space registrations. This is 23% higher than the number in April 2022.
Of the 6,613 Breathing Space registrations in April 2023:
- There were 6,485 Standard breathing space registrations, which is 23% higher than the number in April 2022.
- There were 128 Mental Health breathing space registrations, which is 21% higher than the number in April 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 April 2023 published 16th May 2023 – see the full report here