Monthly Insolvency Statistics, February 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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Main Messages for England and Wales
The number of registered company insolvencies in February 2023 was 1,783:
- 17% higher than in the same month in the previous year (1,518 in February 2022), and
- 33% higher than the number registered three years previously (pre-pandemic; 1,345 in February 2020).
There were 158 compulsory liquidations in February 2023, which is more than twice the number in February 2022, but 32% lower than in February 2020. Numbers of compulsory liquidations have increased from historical lows seen during the coronavirus (COVID-19) pandemic, partly as a result of an increase in winding-up petitions presented by HMRC.
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 previous year(s). Seasonally adjusted figures that more accurately measure trends over time are available in the quarterly insolvency statistics.
In February 2023 there were 1,505 Creditors’ Voluntary Liquidations (CVLs), 13% higher than in February 2022 and 59% higher than February 2020. Numbers of administrations and Company Voluntary Arrangements (CVAs) remained lower than before the pandemic.
For individuals, 580 bankruptcies were registered, which was 3% lower than in February 2022, and 63% lower than February 2020.
There were 2,083 Debt Relief Orders (DROs) in February 2023, which was 7% lower than February 2022 and 13% lower than the pre-pandemic comparison month (February 2020).
There were, on average, 5,627 Individual Voluntary Arrangements (IVAs) registered per month in the three-month period ending February 2023, which is 12% lower than the three-month period ending February 2022, but similar to the three-month period ending February 2020.