Monthly UK insolvency statistics - August 2023

The individual and company August 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 – August 2023

In August 2023 there was a total of 2,308 registered company insolvencies in England and Wales, which included:

1,880 creditors’ voluntary liquidations (CVLs)
221 compulsory liquidations
11 company voluntary arrangements (CVAs)
195 administrations
1 receivership

Overall company insolvencies in August 2023 were 19% higher when compared to August 2022.

In August 2023:

CVLs were 13% higher when compared to August 2022
compulsory liquidations were 45% higher when compared to August 2022
CVAs were 15% lower when compared to August 2022
administrations were 68% higher when compared to August 2022

Between 26 June 2020 and 31 August 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 – August 2023

In August 2023, there were 8,536 individual insolvencies, which was 11% lower than in August 2022. Personal insolvencies in August 2023 included:

5,174 IVAs
648 bankruptcies (522 debtor applications and 126 creditor petitions)
2,714 DROs

Individual voluntary arrangements (IVAs)

IVAs in August 2023 were 27% lower when compared to August 2022. IVA numbers so far in 2023 have been lower than 2022, which had a record high annual number of IVAs.

Bankruptcies

Bankruptcies in August 2023 were 12% higher than in August 2022, with debtor applications 6% higher and creditor petitions 43% higher.

Debt relief orders

The number of DROs in August 2023 were 40% higher than in August 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.

Company insolvency statistics for Scotland – August 2023

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in August 2023 there were 112 company insolvencies in total, 6% higher than the number in August 2022.

Total corporate insolvencies in Scotland in August 2023 consisted of:

33 compulsory liquidations
71 CVLs
8 administrations
0 receivership appointments
0 CVAs

Company insolvency statistics for Northern Ireland – August 2023

In Northern Ireland in August 2023 there were 12 company insolvencies. This was 14% lower than the number in August 2022. They consisted of:

6 CVLs
2 compulsory liquidations
4 CVAs
0 administrations
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – August 2023

There were 139 individual insolvencies in Northern Ireland in August 2023. This was 11% higher when compared to August 2022. They consisted of:

108 IVAs
14 DROs
17 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