Monthly UK insolvency statistics - September 2023

The individual and company September 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 – September 2023

In September 2023 there was a total of 1,967 registered company insolvencies in England and Wales, which included:

1,576 creditors’ voluntary liquidations (CVLs)
255 compulsory liquidations
11 company voluntary arrangements (CVAs)
125 administrations
0 receivership appointments

Overall company insolvencies in September 2023 were 17% higher when compared to September 2022.

In September 2023:

CVLs were 14% higher when compared to September 2022
compulsory liquidations were 19% higher when compared to September 2022
CVAs were the same when compared to September 2022
administrations were 47% higher when compared to September 2022

Individual insolvency statistics for England and Wales – September 2023

In September 2023, there were 7,271 individual insolvencies, which was 27% lower than in September 2022. Personal insolvencies in September 2023 included:

3,687 IVAs
671 bankruptcies (493 debtor applications and 178 creditor petitions)
2,913 DROs

Individual voluntary arrangements (IVAs)

IVAs in September 2023 were 52% lower when compared to September 2022. This was likely in part due to an unusually large number of late registrations of IVAs approved in August and September. Nonetheless, the overall trend is that IVA numbers in 2023 to date have been lower than the record-high numbers in 2022.

Bankruptcies

Bankruptcies in September 2023 were 22% higher than in September 2022, with debtor applications 14% higher and creditor petitions 53% higher.

Debt relief orders

The number of DROs in September 2023 were 61% higher than in September 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 – September 2023

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in September 2023 there were 87 company insolvencies in total, 16% lower than the number in September 2022.

Total corporate insolvencies in Scotland in September 2023 consisted of:

30 compulsory liquidations
52 CVLs
5 administrations
0 receivership appointments
0 CVAs

Company insolvency statistics for Northern Ireland – September 2023

In Northern Ireland in September 2023 there were 37 company insolvencies. This was 68% higher than the number in September 2022. They consisted of:

9 CVLs
25 compulsory liquidations
2 CVAs
1 administration
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – September 2023

There were 129 individual insolvencies in Northern Ireland in September 2023. This was 15% lower when compared to September 2022. They consisted of:

104 IVAs
11 DROs
14 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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Company due diligence
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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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