Monthly Insolvency Statistics, August 2023
Monthly company and individual insolvency statistics for England and Wales, as well as Northern Ireland, and monthly company statistics for Scotland. For England and Wales, Breathing Space scheme statistics and the numbers of company moratoriums and restructuring plans are also included.
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The number of registered company insolvencies in August 2023 was 2,308, 19% higher than in the same month in the previous year (1,941 in August 2022). This was higher than levels seen while the Government support measures were in place in response to the coronavirus (COVID-19) pandemic and also higher than pre-pandemic numbers.
There were 221 compulsory liquidations in August 2023, 45% higher than in August 2022. Numbers of compulsory liquidations have increased from historical lows seen during the coronavirus pandemic, partly as a result of an increase in winding-up petitions presented by HMRC.
In August 2023 there were 1,880 creditors’ voluntary liquidations (CVLs), 13% higher than in August 2022. The number of administrations was also higher than in August 2022.
For individuals, the total number of insolvencies in August 2023 was 8,536, 11% lower than in the same month in the previous year (9,584 in August 2022).
There were 648 bankruptcies in August 2023, which was 12% higher than in August 2022, but less than half of pre-2020 levels.
There were 2,714 Debt Relief Orders (DROs) in August 2023, which was 40% higher than August 2022. Monthly DRO numbers between April and August 2023 were slightly higher than pre-2020 levels.
There were 5,174 IVAs registered in August 2023, which is 27% lower than August 2022.
The numbers provided in this publication are not seasonally adjusted and changes between consecutive months may not indicate overall trends. Therefore, in this publication we compare to the same calendar month in the previous year. Seasonally adjusted figures that more accurately measure trends over time are available in the quarterly insolvency statistics.