Published: 18/01/2022 By Hannah McCormackHere is our last lot of insolvency figures for 2021 which are part of a monthly series published by the Insolvency Service.
During the pandemic overall numbers of company and individual insolvencies were lower than previous years however since mid 2021 CVL numbers have been creeping up and are now at their highest and resemble what it was like pre-pandemic. The numbers for other insolvency procedures still remain lower however this is likely to be partly driven by government measures that were put in place to support businesses and individuals during the pandemic which are now coming to an end or have already ended.
The graph below shows the data from December 2019 to December 2021 for company insolvencies in England and Wales.
There were 1,486 registered company insolvencies in December 2021 in England & Wales
- 20% higher than the number registered in the same month in the previous year (1,237 in December 2020)
- 33% higher than the number registered two years previously (1,120 in December 2019)
These figures are made up as follows:
Creditors Voluntary Liquidations = 1,365 (37% higher than in December 2020 and 73% higher than in 2019)
Compulsory liquidations = 42 (2% lower than December 2020 and 75% lower than 2019)
Administrations = 72 (52% lower than 2020 and 49% lower than 2019)
Company Voluntary Arrangements = 7 (84% lower than 2020 and 67% lower than 2019)
Moratorium = 15 between June 2020 & December 2021
Detailed figures and information of monthly company insolvency data for England & Wales can be found at the Insolvency Service here
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 above? click each link below for our insolvency advice pages:
Company Voluntary Liquidation (CVL)
Compulsory Liquidations or winding up by the court
Company Voluntary Arrangement (CVA)