Monthly UK insolvency statistics - February 2024

The individual and company February 2024 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 – February 2024

In February 2024 there was a total of 2,102 registered company insolvencies in England and Wales, which was 17% higher when compared to February 2023. These included:

1,707 creditors’ voluntary liquidations (CVLs)
217 compulsory liquidations
166 administrations
12 company voluntary arrangements (CVAs)
0 receivership appointments

In February 2024:

CVLs were 12% higher when compared to February 2023
compulsory liquidations were 35% higher when compared to February 2023
administrations were 54% higher when compared to February 2023
CVAs were the same as February 2023

Individual insolvency statistics for England and Wales – February 2024

In February 2024, there were 10,136 individual insolvencies, which was 23% higher than in February 2023. Personal insolvencies in February 2024 included:

6,420 IVAs
709 bankruptcies (594 debtor applications and 115 creditor petitions)
3,007 DROs

Individual voluntary arrangements (IVAs)

IVAs in February 2024 were 16% higher when compared to February 2023. IVA Numbers in February include an unusually high number of IVAs (more than 1,000) that were approved more than two months earlier, but were not registered until February. IVA numbers in 2023 were lower than the record-high numbers in 2022.

Bankruptcies

Bankruptcies in February 2024 were 16% higher than in February 2023, with debtor applications 22% higher and creditor petitions 9% lower.

Debt relief orders

The number of DROs in February 2024 were 44% higher than in February 2023. DRO numbers have increased over the past year, with the annual 2023 number being a record high.

Company insolvency statistics for Scotland – February 2024

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in February 2024 there were 94 company insolvencies in total, 9% higher than the number in February 2023.

Total corporate insolvencies in Scotland in February 2024 consisted of:

33 compulsory liquidations
58 CVLs
3 administrations
0 CVAs
0 receivership appointments

Company insolvency statistics for Northern Ireland – February 2024

In Northern Ireland in February 2024 there were 26 company insolvencies. This was 100% higher than the number in February 2023. They consisted of:

9 CVLs
14 compulsory liquidations
3 administrations
0 CVAs
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – February 2024

There were 122 individual insolvencies in Northern Ireland in February 2024. This was 13% higher when compared to February 2023. They consisted of:

90 IVAs
21 bankruptcies
11 DROs

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’s Data Service provides timely official company, insolvency and deceased estates information to aid data driven decision-making. As the UK’s official public record, our authorised data can help your business with:

KYC / Due Diligence
Risk Management
Regulatory Compliance
Business Development
Business Intelligence and Strategy

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 your free one-month data service trial or find out more about The Gazette's Data Service by filling out our enquiry form or calling us on 01603 985949.

Enquire now