Insolvency statistics released for November 2024

The insolvency statistics released for November show that of the 1,966 registered company insolvencies:

  • There were 254 compulsory liquidations
  • 1,565 creditors’ voluntary liquidations (CVLs)
  • 132 administrations
  • 14 company voluntary arrangements (CVAs).

Individual Insolvencies

10,012 individuals entered insolvency in England and Wales in November 2024. This was 12% higher than in October 2024 and 25% higher than in November 2023.

The individual insolvencies consisted of

  • 589 bankruptcies
  • 3,693 debt relief orders (DROs)
  • 5,73 individual voluntary arrangements (IVAs)
  • The 5,730 IVAs (after seasonal adjustment) registered in November 2024 was 34% higher than in November 2023, and 25% higher than in October 2024.
  • In the 12 months ending 30 November 2024, one in 422 adults in England and Wales entered insolvency (at a rate of 23.7 per 10,000 adults). This is higher than the rate of 21.8 per 10,000 adults (one in 459) who entered insolvency in the 12 months ending 30 November 2023.

Debt Relief Orders

Individual Voluntary Arrangements

Breathing Space Registrations

  • There were 7,626 breathing spaces registered under the Debt Respite Scheme in November 2024. This is 2% higher than in November 2023. Of the 7,626 breathing space registrations, 7,506 were Standard breathing space registrations and 120 were Mental Health breathing space registrations. Between the start of the scheme in May 2021 and 30 November 2024, StepChange Debt Charity registered 61% 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.