Monthly UK insolvency statistics - June 2023

The individual and company June 2023 insolvency statistics for England and Wales have been published by the Insolvency Service, together with related insolvency figures for Scotland and Northern Ireland.

Company insolvency statistics for England and Wales – June 2023

In June 2023 there was a total of 2,163 registered company insolvencies in England and Wales, which included:

1,759 creditors’ voluntary liquidations (CVLs)
260 compulsory liquidations
14 company voluntary arrangements (CVAs)
130 administrations
0 receiverships

Overall company insolvencies in June 2023 were 27% higher when compared to June 2022.

In June 2023:

CVLs were 21% higher when compared to June 2022
compulsory liquidations were 77% higher when compared to June 2022
CVAs were 75% higher when compared to June 2022
administrations were 44% higher when compared to June 2022

Between 26 June 2020 and 30 June 2023, 45 companies obtained a moratorium and 21 companies had a restructuring plan registered at Companies House – two new procedures created by the Corporate Insolvency and Governance Act 2020.

Individual insolvency statistics for England and Wales – June 2023

In June 2023, there were:

643 bankruptcies (521 debtor applications and 122 creditor petitions)
2,320 DROs
6,026 IVAs registered (using a three-month rolling average)

Bankruptcies

Bankruptcies in June 2023 were 29% higher than in June 2022, with debtor applications 27% higher and creditor petitions 36% higher.

Debt relief orders

The number of DROs in June 2023 were 21% higher than in June 2022. It’s noted that DRO numbers were volatile in early 2023 at the time of introduction of new DRO hubs, but between April and June 2023 were similar to pre-2020 levels.

Individual voluntary arrangements

As individual voluntary arrangement (IVA) numbers have been calculated using different methodology, they are presented separately to debt relief orders (DROs) and bankruptcies. Due to volatile data, the Insolvency Service provided three-month rolling averages for IVAs, which indicate what the overall trend of IVA registrations might look like.

IVAs in June 2023 were 22% lower when compared to the average number of registered IVAs during the three months ending June 2022.

Company insolvency statistics for Scotland – June 2023

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in June 2023 there were 113 company insolvencies in total, 51% higher than the number in June 2022.

Total corporate insolvencies in Scotland in June 2023 consisted of:

36 compulsory liquidations
72 CVLs
5 administrations
0 receivership appointments
0 CVAs

Company insolvency statistics for Northern Ireland – June 2023

In Northern Ireland in June 2023 there were 14 company insolvencies. This was 44% lower than the number in June 2022. They consisted of:

11 CVLs
2 compulsory liquidations
1 CVA
0 administrations
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – June 2023

There were 160 individual insolvencies in Northern Ireland in June 2023. This was 19% higher when compared to June 2022. They consisted of:

110 IVAs
14 DROs
36 bankruptcies

Where can I see insolvency notices in The Gazette?

The Gazette is the primary source of both corporate insolvency and personal insolvency information in the UK and publishes this information in the form of insolvency notices, allowing transparency for the public, the credit industry and concerned individuals to quantify risk and inform creditors. You can view all corporate and personal insolvency notices on The Gazette website.

The Gazette also provides a Data Service provides accurate and timely information to aid data driven decision-making. Our data is helping organisations like yours in areas such as:

KYC, KY3P and AML
Company due diligence
Credit management
Investment risk decisions
Lead generation
Supply chain monitoring

Our clients include the likes of leading banks and financial institutions, government departments and credit reference agencies. You too can benefit from the following Gazette data:

Personal bankruptcy
Corporate insolvency
Deceased estates
Gazette first & final (strike-off information)
Notice of company incorporation

Bespoke and historical data sets are available. Start a free one-month data service trial or find out more using our enquiry form or call on 01603 985949.

Enquire now