Insolvency statistics – June 2023

Published: 17/07/2023 By Hannah Duncan

The insolvency stats for June 2023 have been released - are we starting to see a bimonthly pattern?

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 June 2019 and is split by the type of insolvency.

Following a spike last month the numbers of company insolvencies have dipped again with creditors voluntary liquidations (CVLs) still holding the largest portion of the total number of insolvencies for the month of June. This has been the trend for the past 4 months with a spike followed by a dip, will this continue over the summer months?




There were 2,163 registered company insolvencies in June 2023 in England & Wales

  • 27% higher than June last year (1,698 in June 2022)
  • 389 less cases than last month (2,552 in May 2023) 


These figures are made up as follows: 
Creditors Voluntary Liquidations = 1,759 - 21% higher than June 2022

Compulsory liquidations = 260 - 77% higher than in June 2022

Administrations = 130 - 44% higher than June 2022

Company Voluntary Arrangements = 14 - 75% higher than June 2022

Receivership = 0

Moratorium = the number remains at 45 between June 2020 & June 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