Insolvency Statistics: September 2022

Posted on Oct 14, 2022. by NTI

The headlines for all of you breathless this afternoon (Friday 14 October) at trying to keep up with the number of bodies Liz Truss is prepared to ditch to paddle in a boat full of freezing water to safety, are:

The number of registered company insolvencies in September 2022 was 1,679:

   This is 16% higher than in the same month in the previous year (1,453 in September 2021), and ...

   ... 11% higher than the number registered three years previously (pre-pandemic; 1,508 in September 2019).

In September 2022 there were 1,379 Creditors’ Voluntary Liquidations which is just 4% higher than in September 2021 (this is a bit of a surprise, isn't it?) and 25% higher than September 2019 (which is not in the least surprising). Numbers for other types of company insolvencies, such as Compulsory Liquidations, remained lower than before the pan ... blah, blah, blah, although there were over six times as many compulsory liquidations in September 2022 compared to September 2021 (the least surprising statistic of all, so far).

Moving on to personal insolvencies, there were 535 Bankruptcies registered in September 2022, which was 15% lower than in September 2021 and 61% lower than September 2019. 

There were 1,812 Debt Relief Orders (DROs) in September 2022, which was 16% lower than September 2021 and 26% lower than the pre-pandemic comparison month (September 2019).

There were, on average, 7,188 Individual Voluntary Arrangements registered per month in the three-month period ending September 2022, which is 5% higher than the three-month period ending September 2021, but 4% lower than the three-month period ending September 2019.

How does the above compare with your impression of your workload?

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