Monthly Insolvency Statistics, September 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 September 2021 was 1,446:
- 56% higher than the number registered in the same month in the previous year ( 928 in September 2020), but
- 4% lower than the number registered two years previously (pre-pandemic; 1,510 in September 2019).
In September 2021 there were 1,328 Creditors’ Voluntary Liquidations (CVLs), which is the highest level seen in the series since January 2019. The number of registered company insolvencies was similar to pre-pandemic levels, driven by this higher number of CVLs, although other types of company insolvencies, such as compulsory liquidations, remained lower.
For individuals, 614 bankruptcies were registered, which was 42% lower than September 2020 and 55% lower than September 2019.
Numbers of Debt Relief Orders (DROs) in September 2021 were at their highest level since the start of the pandemic, with 2,150 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 41% higher than September 2020 but remained lower than pre-pandemic levels (12% lower than in September 2019).
There were, on average, 6,853 IVAs registered per month in the three-month period ending September 2021, which is 48% higher than the three-month period ending September 2020 and 9% lower than the three-month period ending September 2019. Note that the IVA series is historically volatile as it is based on date of registration at the Insolvency Service (see the Methodology and data quality section for more information).
Between the launch of the Breathing Space scheme on 4 May 2021, and 30 September 2021, there were 27,246 registrations, comprised of 26,896 Standard breathing space registrations and 350 Mental Health breathing space registrations.