Insolvency statistics – April 2023

Published: 30/05/2023 By Hannah Duncan

Here are the insolvency stats for April 2023, for the first time in 2023 we are seeing a drop in insolvencies.

All the data is taken from the monthly stats created by the insolvency service.

The graph below shows the total number of company insolvencies each month since April 2019. It is split by the different type of insolvency, making it easier to see which type had the most cases.

As you can see creditors voluntary liquidations (CVL) still hold the largest portion of the total insolvencies for this month despite a large drop in numbers. However this is the first month we see a drop in the total number of insolvencies, with levels dropping to that similar to early 2022.

There were 1,685 registered company insolvencies in April 2023 in England & Wales

  • 15% lower than in the same month a year ago (1,988 in April 2022)
  • 31% lower than last month (2,457 in March 2023) 

These figures are made up as follows: 
Creditors Voluntary Liquidations = 1,368 - 23% lower than in April 2023

Compulsory liquidations = 183 - twice as high as in April 2022

Administrations = 122 - 8% higher than April 2022

Company Voluntary Arrangements = 12 - 20% higher than April 2022

Receivership = 0

Moratorium = the number remains at 43 between June 2020 & April 2023

If you have noticed that your business has cash flow issues and is struggling financially, don't panic, there are options to try before an official insolvency procedure is needed BUT you must act now! We are rescue and recovery specialists, we thrive on business turnaround and are only a phone call away to getting your business back on track.

Could a Moratorium give you the necessary breathing space to save your business?  Find out  here.   

Want to know more about each Insolvency Procedure listed? Please click each link above for our insolvency advice pages or give us a call for a more detailed chat, call 020 8661 7878 or email we offer a free no obligation initial meeting. 

Or take our Insolvency Test