Published: 25/07/2022 By Hannah McCormackHere is our monthly run down on how many insolvencies took place this month in comparison to the same time in previous years:
All the data is taken from the monthly stats created by the insolvency service.
As you can see from the graph below overall numbers of insolvencies are still higher than pre-pandemic times, figures are however, less than the last few months but are still significantly higher than during the pandemic. The graph below shows the data from June 2019 to June 2022 for company insolvencies in England and Wales.
There were 1,691 registered company insolvencies in June 2022 in England & Wales
- 40% higher than the number registered in the same month in the previous year which was 1207 in June 2021
- 15% higher than pre-pandemic, 3 years ago - 1,467 in June 2019
These figures are made up as follows:
Creditors Voluntary Liquidations = 1,456 (30% - higher than in June 2021 and 44% higher than in 2019)
Compulsory liquidations = 136 (258% - 3.6 times higher than June 2021 but 51% lower than June 2019)
Administrations = 90 (131% higher than June 2021 but 40% lower than 2019)
Company Voluntary Arrangements =8 (43% lower than in June 2021, but 77% lower than 2019)
Receivership = 1
Moratorium = 39 between June 2020 & June 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 or give us a call for a more detailed chat:
Company Voluntary Liquidation (CVL)
Compulsory Liquidations or winding up by the court
Company Voluntary Arrangement (CVA)