Monthly UK insolvency statistics - July 2023

The individual and company July 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 – July 2023

In July 2023 there was a total of 1,727 registered company insolvencies in England and Wales, which included:

1,336 creditors’ voluntary liquidations (CVLs)
248 compulsory liquidations
19 company voluntary arrangements (CVAs)
124 administrations
0 receiverships

Overall company insolvencies in July 2023 were 6% lower when compared to July 2022.

In July 2023:

CVLs were 17% lower when compared to July 2022
compulsory liquidations were 81% higher when compared to July 2022
CVAs were almost four times as high when compared to July 2022
administrations were 53% higher when compared to July 2022

Between 26 June 2020 and 31 July 2023, 46 companies obtained a moratorium and 22 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 – July 2023

In July 2023, there were:

620 bankruptcies (495 debtor applications and 125 creditor petitions)
2,667 DROs
5,659 IVAs registered (using a three-month rolling average)

Bankruptcies

Bankruptcies in July 2023 were 14% higher than in July 2022, with debtor applications 7% higher and creditor petitions 49% higher.

Debt relief orders

The number of DROs in July 2023 were 45% higher than in July 2022. It’s noted that DRO numbers were volatile in early 2023 at the time of introduction of new DRO hubs and are now slightly higher than 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 July 2023 were 26% lower when compared to the average number of registered IVAs during the three months ending July 2022.

Company insolvency statistics for Scotland – July 2023

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in July 2023 there were 97 company insolvencies in total, 41% higher than the number in July 2022.

Total corporate insolvencies in Scotland in July 2023 consisted of:

44 compulsory liquidations
51 CVLs
2 administrations
0 receivership appointments
0 CVAs

Company insolvency statistics for Northern Ireland – July 2023

In Northern Ireland in July 2023 there were 13 company insolvencies. This was 7% lower than the number in July 2022. They consisted of:

8 CVLs
3 compulsory liquidations
2 CVAs
0 administrations
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – July 2023

There were 108 individual insolvencies in Northern Ireland in July 2023. This was 33% lower when compared to July 2022. They consisted of:

83 IVAs
16 DROs
9 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:

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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

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