Monthly Insolvency Statistics, July 2021
Monthly company and individual insolvency statistics for England and Wales, as well as Northern Ireland, and monthly company statistics for Scotland, in response to the coronavirus (COVID-19) pandemic. 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 July 2021 was 1,094:
- 13% higher than the number registered in the same month in the previous year (965 in July 2020), but
- 24% lower than the number registered two years previously (pre-pandemic; 1,442 in July 2019).
In July 2021 there were 1,007 Creditors’ Voluntary Liquidations (CVLs), which was similar to pre-pandemic levels. The overall reduction in company insolvencies compared to July 2019 was driven mostly by the lower number of compulsory liquidations.
For individuals, 620 bankruptcies were registered, which was 34% lower than July 2020 and 58% lower than July 2019.
Numbers of Debt Relief Orders (DROs) in July 2021 were at their highest level since the start of the pandemic, with 1,864 DROs registered, following changes to the eligibility criteria on 29 June including an increase in the level of debt at which people can apply for a DRO from £20,000 to £30,000. The number of DROs registered was 15% higher than July 2020 but remained lower than pre-pandemic levels (22% lower than in July 2019).
There were, on average, 6,841 IVAs registered per month in the three-month period ending July 2021, which is 7% lower than both the three-month period ending July 2020 and the three-month period ending July 2019.
Between the launch of the Breathing Space scheme on 4 May 2021, and 31 July 2021, there were 17,297 registrations, comprised of 17,098 Standard breathing space registrations and 199 Mental Health breathing space registrations.