Insolvency statistics – February 2023

Published: 20/03/2023 By Hannah McCormack

Month 2 and we look at how many company insolvencies there has been compared to previous periods in the last 4 years.

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

The graph below which starts from February 2019 through to February 2023, shows the total number of company insolvencies each month. It also shows the different types of insolvencies making it easier to see which type of insolvency had the most cases. As you can see from February's results, the creditors voluntary liquidations (CVL) hold the largest portion of the total insolvencies for this month & in fact all months prior. The total number of insolvencies have slightly risen again this month but are lower than this time last year in 2022 but significantly higher than in February 2021 when they were at their lowest of the last 4 years.

There were 1,783 registered company insolvencies in February 2023 in England & Wales

  • 17% higher than in the same month a year ago (1,518 in February 2022)
  • 33% higher than the number registered three years previously in pre-pandemic times (1,345 in February 2020)
  • 6% higher than last month (1,671 in January 2023)

These figures are made up as follows: 
Creditors Voluntary Liquidations = 1,505 - 13% higher than in February 2022 and 59% higher than in February 2020

Compulsory liquidations = 158 - twice that in February 2022 but 32% lower than February 2020

Administrations = 108 - similar to February 2022 but 27% lower than February 2020

Company Voluntary Arrangements = 12 - four times higher than February 2022 but 37% lower than February 2020

Receivership = 0

Moratorium = the number remains at 42 between June 2020 & February 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 above? 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