Monthly UK insolvency statistics - September 2022

In response to the coronavirus (COVID-19) pandemic, the individual and company September 2022 insolvency statistics for England and Wales have been published by the Insolvency Service, together with related insolvency figures for Scotland and Northern Ireland.

Insolvency statistics for England and Wales following coronavirus lockdown

The Insolvency Service has been releasing monthly company and individual insolvency statistics for England and Wales and Northern Ireland, as well as monthly company statistics for Scotland, throughout the coronavirus (COVID-19) pandemic, and for a period thereafter.

However, these statistics are marked ‘experimental’ since the process of compiling insolvency data in monthly format is new to the statistics team at the Insolvency Service and is subject to review. The Insolvency Service also notes that as they do not record whether an insolvency is directly related to the coronavirus pandemic, as it is not possible to state its direct effect on insolvency volumes.

Company insolvency statistics for England and Wales – September 2022

In September 2022 there was a total of 1,679 company insolvencies in England and Wales, which included:

1,379 creditors’ voluntary liquidations (CVLs)
204 compulsory liquidations
85 administrations
11 company voluntary arrangements (CVAs)
0 receiverships

Overall company insolvencies in September 2022 were 11% higher when compared to September 2019 (pre-pandemic) and 16% higher than insolvencies recorded in September 2021.

In September 2022:

CVLs were 4% higher when compared to September 2021 and 25% higher than in September 2019
compulsory liquidations were 538% higher than September 2021, but 10% lower than September 2019
CVAs were 8% lower when compared to September 2021 and 50% lower than September 2019
administrations were 5% higher than September 2021, but 47% lower than September 2019

Between 26 June 2020 and 30 September 2022, 40 companies obtained a moratorium and 12 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 – September 2022

In September 2022, there were:

535 bankruptcies (432 debtor applications and 103 creditor petitions)
1,812 DROs
7,188 IVAs registered (using a three-month rolling average)

Bankruptcies

Bankruptcies in September 2022 were 15% lower than in September 2021 and this was driven by a drop in debtor applications (22% lower). However, creditor petitions were 34% higher than in September 2021. Compared to September 2019, total bankruptcies were 61% lower.

Debt relief orders

The number of DROs in September 2022 were 26% lower than in September 2019 and 12% lower than in September 2021.

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 September 2022 were 5% higher when compared to the average number of registered IVAs during the three months ending September 2021, but 4% lower than the three months ending September 2019.

Breathing Space registrations

In September 2022 there were 6,117 Breathing Space registrations. This is 21% higher than the number in September 2021. The Breathing Space registrations in September 2022 comprised of:

6,085 Standard breathing space registrations, which is 21% higher than the number in September 2021
92 Mental Health breathing space registrations, which is 10% higher than the number in September 2021

Company insolvency statistics for Scotland – September 2022

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in September 2022 there were 103 company insolvencies in total, 47% higher than the number in September 2021 and 36% higher than in September 2019.

Total corporate insolvencies in Scotland in September 2022 consisted of:

25 compulsory liquidations
69 CVLs
8 administrations
1 CVA
0 receivership appointments

Company insolvency statistics for Northern Ireland – September 2022

In Northern Ireland in September 2022 there were 22 company insolvencies. This was double that of September 2021, but 39% lower when compared to September 2019. They consisted of:

2 compulsory liquidations
18 CVLs
2 CVAs
0 administrations
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – September 2022

There were 152 individual insolvencies in Northern Ireland in September 2022. This was 24% higher when compared to September 2021, but 52% lower when compared to September 2019. They consisted of:

120 IVAs
24 DROs
8 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 which gives access to official intelligence on all UK businesses, corporate and personal insolvencies. Benefits of The Gazette’s data service include:

Bespoke reports - tailored around your specific business
Geo-targeted editions - available for specific geographical targeting (National, London, Belfast, Edinburgh)
Custom filters - specific custom attributes (company number, notice type, key terms)
Data at regular intervals - delivered at a rate to match your business needs (daily, weekly, monthly)

For more information on The Gazette’s data service, contact the team on 01603 985949 or email data@thegazette.co.uk.

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