Published: 18/10/2021 By Hannah McCormackThe following figures are part of a monthly series published by the Insolvency Services to supplement quarterly National Statistics, with the aim of providing more up to date information as we rebuild from the effects of COVID-19.
During the pandemic overall numbers of company and individual insolvencies were low however CVL numbers are now at their highest and resemble what it was like pre-pandemic. The numbers for other insolvency procedures still remain lower however this is likely to be partly driven by government measures that were put in place to support businesses and individuals during the pandemic which are now coming to an end or have already ended.
England and Wales, September 2020 to September 2021, Not seasonally adjusted
There were 1,446 registered company insolvencies in September 2021 in England & Wales
- 56% higher than the number registered in the same month in the previous year (928 in September 2020)
- 4% lower than the number registered two years previously (1,510 in September 2019).
These figures are made up as follows:
Creditors Voluntary Liquidations = 1,328 (80% higher than in September 2020 and 21% higher than September 2019)
Compulsory liquidations = 25 (49% lower than 2020 and 89% lower than 2019)
Administrations = 81 (26% lower than 2020 and 45% lower than 2019)
Company Voluntary Arrangements = 12 (61% lower than 2020 and 45% lower than 2019)
Detailed figures and information of monthly company insolvency data for England & Wales can be found at the Insolvency Service here
Could a Moratorium give you the necessary breathing space to save your business? Find out here.
Insolvency Procedures explained - click each link below:
Company Voluntary Liquidation (CVL)
Compulsory Liquidations or winding up by the court
Company Voluntary Arrangement (CVA)