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Monthly UK insolvency statistics – February 2022

Published: 31/03/2022 By Hannah McCormack

Last months insolvency figures for 2022 are out!

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

With the Government lifting covid restrictions, the business world back on its feet, we see how the start of 2022 is shaping up, especially now the tapering off of financial aid is in place and many of the government financial support schemes have come to an end.

We previously reported that during the pandemic overall numbers of company and individual insolvencies were lower than previous years, however, things have now changed and the number of company insolvencies are 13% higher than pre-pandemic times. Within this number are the Creditors Voluntary Liquidation (CVL) numbers, which have been gradually creeping up since the end of 2021; now we are in 2022 they are at their highest, even higher than they were pre-pandemic (125% higher). The numbers for other insolvency procedures still remain lower apart from compulsory Liquidations and administrations which have doubled.

The graph below shows the data from February 2019 to February 2022 for company insolvencies in England and Wales.
There were 1,515 registered company insolvencies in February 2022 in England & Wales

  • More than double the number registered in the same month in the previous year - 685 in February 2021
  • 13% higher than the number registered pre-pandemic - 1,346 in February 2020)

These figures are made up as follows:

Creditors Voluntary Liquidations = 1,329 (125% higher than in February 2021 and 40% higher than in 2020)
Compulsory liquidations = 74 (124% higher than February 2021 but 68% lower than February 2020)
Administrations = 109 (95% higher than 2021 and 26% lower than 2020)
Company Voluntary Arrangements = 3 (50% lower than 2021 and 84% lower than 2020)
Moratorium = 33 between June 2020 & February 2022
 

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)
Company Administration