England & Wales – Company UK Insolvency Statistics 2021
Total registered company insolvencies for October 2021 was 1,405, which is isn’t too far from the pre-pandemic levels (5% lower than October 2019).
89% of the monthly company insolvencies were CVLs – 1,248. This happens to be 63% higher than Oct 2020.
There were 95 administrations, which is lower than Oct 2020 by 8%, the region also had 16 CVAs and 46 compulsory liquidations.
England & Wales – Individual Insolvencies
For October, there were 601 bankruptcies. Compared to October 2019 (pre-pandemic), total bankruptcies are 57% lower.
Based on how IVAs are calculated, there were on average 7,031 IVAs registered monthly in the 3-month period ending October 2021.
Scotland – Company Insolvencies
In October 2021, 68 company insolvencies were registered. As expected, the majority were CVLs which accounted for 79%. There were two administrations & 12 compulsory liquidations.
Total insolvency statistics for registered companies was a 58% increase from October 2020, however, it’s still not quite at pre-pandemic levels. For Scotland, company insolvencies numbers are usually led by compulsory liquidations, however, this has not been the case since the start of the pandemic as there have since been twice as many CVLs.
Northern Ireland – Company Insolvencies
A total of 14 insolvencies, which included 12 CVLs, one administration and one compulsory liquidation.
This is 75% higher than Oct 2020 but still quite a way off October 2019.
Northern Ireland – Individual Insolvencies
Northern Ireland had 102 individual insolvencies, of which 95 were IVAs and three were bankruptcies.
Conclusion
That’s a wrap on the UK insolvency statistics for 2021. For the UK, insolvencies have increased year-on-year, with England & Wales being the closest to pre-pandemic levels. The number of insolvencies – both corporate and personal – is still quite heavily impacted by the government measures put in place.
On the corporate side, there’s been 15 moratoriums obtained since June 2020 and nine companies registering a “restructuring plan” at Companies House. The DRO eligibility changes came into effect in June 2021 and there’s also the introduction of “Breathing Space Registrations” – since it’s inception in May 2021, there have been over 32,000 registrations.
(Statistical data sourced from The Insolvency Service)
