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  • Insolvency review - Week 44

     

    RCM Weekly review - November 2019 - Week 44

     

     This week: Total individual insolvencies remain high with an increase in IVAs recorded and retail business insolvencies have hit a five-year high.

    30th October 2019

     Hairdressing chain supercuts enters Administration putting up to 1,220 jobs at risk

    Total individual insolvencies remain elevated

    The insolvency service has released insolvency statistics for 2019 Q3.

    Personal insolvency Statistics

    The total number of bankruptcies for the last quarter hit 4,228 which is the highest level since the last quarter of 2014. However total individual insolvencies (with includes Bankruptcies, IVAs and Debt relief orders) decreased in Q2 2019 for the second consecutive quarter, following an 8 year high in Q4 2018.

    There were 30,879 individual insolvencies in Q3 2019, 0.6% higher than in Q2 2019. In comparison to the same quarter in 2018 there has been an increase of 22.7%. The slight rise in individual insolvencies in Q3 2019 was driven by increases in IVAs and DROs but was partially offset by a decrease in the number of bankruptcies. IVAs increased by 1.4% to 19,973, DROs increased by 0.3% to 6,784, and bankruptcies decreased by 2.6% to 4,122.

    Q3 2019 Individual Insolvency Statistics

    Q3 2019 Individual Insolvency Statistics

    Source: The Insolvency Service


    Total underlying company insolvencies increased in Q3 2019

    Company insolvency Statistics

    Total company insolvencies increased slightly in Q3 2019 compared with Q2 2019. There has been an increase in the number of administrations and creditors’ voluntary liquidations. Administrations have reached their highest quarterly level since Q1 2014. Compulsory liquidations have fallen for the third successive quarter to their lowest level since Q4 2017

    The current release shows that retail insolvencies are at a five-year high. In the past year 1252 retailers have closed their doors, this is up from 1232 in the previous year. When compared to five years ago, retail insolvencies have risen by 16%

    Total number of company insolvency totalled 4,355 for the quarter, with 666 compulsory liquidations, 3,115 CVLs, 484 Administrations and 89 CVAs.

    Q3 2019 Company Insolvency Statistics

    Q3 2019 Company Insolvency Statistics

    Source: The Insolvency Service


    Read the Full reports here:
    Q3 2019 Personal Insolvency Statistics

    Q3 2019 Company Insolvency Statistics


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