Insolvency statistics – January 2023

Published: 21/02/2023 By Hannah McCormack

There is currently a lot in the press about the increases in insolvencies compared with previous periods, but what does that actually look like on a graph? In order to provide a clearer understanding of the number of insolvent cases we bring you a brief outline of how many company insolvencies there have been in England and Wales each month.

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

The graph below which starts from January 2019 through to January 2023, shows the total number of company insolvencies as well the specific type of insolvency. It is therefore easier to see which type of insolvency has the most cases, as you can see in this graph its the creditors voluntary liquidations (CVL). Although there are many highs and lows throughout the graph, with the biggest low being during the pandemic, we see that numbers of total insolvencies this month are in fact similar to those in January 2019. However these numbers have dropped since November and December of last year. It will be interesting to see if the current tough trading conditions and high inflation that business owners are having to deal with will cause this figure to once again increase.

There were 1,671 registered company insolvencies in January 2023 in England & Wales

  • 7% higher than in the same month a year ago (1,567 in January 2021)
  • 11% higher than the number registered three years previously in pre-pandemic times (1,502 in January 2019)
  • 14% lower than last month - 1,964 in December 2022

These figures are made up as follows: 
Creditors Voluntary Liquidations = 1,382 - 2% higher than in January 2022 and 37% higher than in January 2020

Compulsory liquidations = 189 - 52% higher than January 2022 but 36% lower than January 2020

Administrations = 86  21% higher than January 2022 but 49% lower than January 2020

Company Voluntary Arrangements = 14  - 8% higher than January 2022 but 56% lower than January 2020

Receivership = 0

Moratorium = the number remains at 42 between June 2020 & January 2023

If you have noticed that your business has cash flow issues and struggling financially, don't panic, there are options to try before an official insolvency procedure is needed BUT you need to 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