14 Aug 2019 / Back to latest updates

New Insolvency Statistics Announced by the Insolvency Service

The Insolvency Service has now released new statistics for Company Insolvencies in England and Wales for Quarter Two of 2019 (April 2019 to June 2019) on 30 July 2019.

The report reveals some interesting statistics:

• There were 4,321 total underlying company insolvencies in Q2 2019; this is 2.6% higher than in Q1 2019.
• Compulsory Liquidations (decreased by 4.1%), Administrations (decreased by 11.4%) and Company Voluntary Arrangements (CVAs) (decreased by 1.1%) in Q2 2019, while Creditors’ Voluntary Liquidations increased from Quarter one (6.9%).
• Administrations are still high but have decreased since Quarter 1 of 2019. This is the second highest quarterly level since Q1 2014, but 11.4% lower than Q1 2019.
• The liquidation rate remains low, with 1 in 237 companies liquidated in the 12 months ending Q2 2019.
• This was slightly up from 1 in 238 companies in Q1 2019.
• Underlying insolvencies increased in the 12 months ending Q2 2019.
• There were 97 extra underlying company insolvencies compared with the 12 months ending Q1 2019, a 0.6% increase.

The insolvencies were listed by industry with the accommodation and food service industry with 74 extra cases compared to the 12 months ending Q1 2019 (a 3.4% increase), the construction industry (37 additional insolvencies and an increase of 1.2%), and the other service activities grouping (32 additional insolvencies and an increase of 4.7%).

There were decreases in the administrative and support services industrial grouping with 53 fewer cases (a decrease of 2.8%); and the transportation and support services grouping (21 fewer cases and a 3.9% decrease).

If you need help or advice in either considering entering into insolvency or bringing insolvency action against a debtor, our expert team can help.

Whether a one-off case or a substantial debt portfolio, we offer a one-stop-shop for businesses suffering from late payments, including pre-legal collections right through to post insolvency action.

For further information, please contact our specialist team.