Monthly UK insolvency statistics – September 2022

Published: 17/10/2022 By Hannah McCormack

Bringing you the monthly run down on how many insolvencies took place in September, compared to the same time in previous years, to give an idea of how things have changed in the insolvency world since before and after the pandemic:

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

Numbers of insolvencies were actually down in the month of September compared to last month. As you can see from the graph below the overall numbers of insolvencies are still higher than before the first lockdown but the graph is starting to show a downward trend suggesting numbers of insolvencies are reducing compared to the increases we have seen since March 2021.



There were 1,679 registered company insolvencies in September 2022 in England & Wales

  • 16% higher than the same month a year ago which was 1,453 in September 2021
  • 11% higher than pre-pandemic times, 3 years ago - 1,508 in September 2019 
  • 15% lower than last month - 1,933 in August 2022

These figures are made up as follows: 
Creditors Voluntary Liquidations = 1,379 (4% - higher than in September 2021 and 25% higher than in September 2019)

Compulsory liquidations = 204 (537% - 6.4 times higher than September 2021 but 10% lower than September 2019)

Administrations = 85 (5% higher than September 2021 but 47% lower than September 2019)

Company Voluntary Arrangements = 11 (8% - lower than in September 2021 and 50% lower than September 2019)

Receivership = 0

Moratorium = 40 between June 2020 & September 2022
 

If you have noticed that your business has started to get some cash flow issues and is maybe 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 specialist, 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 insolvency@turpinba.co.uk