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  • Insolvency review - Week 3

     

    The Insolvency Service has released Q4/18 and annual 2018 insolvency statistics.

     

    This collection brings together the Insolvency Service’s National Statistics on new corporate and individual insolvencies in England & Wales, and related statistics for Scotland and Northern Ireland. 9:45am, 29 January 2019: New edition of quarterly statistics

     

    Corporate insolvencies:

    The underlying number of insolvencies has increased to the highest levels since 2014.

    Total company insolvencies for 2018 was 16,090 which is a 10% increase on the 2017 figure of 14,631.

    Corporate insolvency statistics

     Source: The Insolvency Service. 2019

     

     

    Personal insolvencies:

    Total individual insolvencies for 2018 rose to 115,229 which is an increase for the third consecutive

    year and the highest since 2011.  This was primarily driven by a 20% increase in the number of IVAs, up to an all time high of 71,034 for the year.

    Personal insolvency statistics

     Source: The Insolvency Service. 2019

     

    Read the full report here:

    https://www.gov.uk/government/statistics/insolvency-statistics-october-to-december-2018

     

    Corporate insolvencies:

    Don’t let your business become another statistic.  If you’re struggling, It’s important to seek advice as early as possible to stand a chance of saving your business.  If the business is not sustainable, it’s better to accept this earlier to reduce the potential losses.

     

    Personal insolvencies:

    If you’re missing payments or struggling with personal debts, an IVA could be an option to help you get back on track.

     

    We can offer a free confidential consultation for you or your business:

    0800 288 4088.

    Alternatively, complete one of our enquiry forms below and we'll get in touch.



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