Insolvency statistics – July 2023

Published: 23/08/2023 By Hannah Duncan

The insolvency stats for July 2023 have been released and the figures have come down again from last month.

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 July 2019 and is split by the type of insolvency.

Following a spike in May the numbers of company insolvencies have dipped again for the second month in a row, with creditors voluntary liquidations (CVLs) still holding the largest portion of the total number of insolvencies. Numbers now back under 2,000 is this due to the quieter summer months, perhaps we will see another spike in September?




There were 1,727 registered company insolvencies in July 2023 in England & Wales

  • 6% lower than July last year (1,831 in July 2022)
  • 436 less cases than last month (2,163 in June 2023) 


These figures are made up as follows: 
Creditors Voluntary Liquidations = 1,336 - 17% lower than July 2022

Compulsory liquidations = 248 - 81% higher than in July 2022

Administrations = 124 - 53% higher than July 2023

Company Voluntary Arrangements = 19 - 4 times as many than in July 2022

Receivership = 0

Moratorium = 46 between 26th June 2020 & 31st July 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 insolvency@turpinba.co.uk we offer a free no obligation initial meeting. 

Or take our Insolvency Test