20 Feb 2019 / Back to latest updates

New Insolvency Statistics Announces by the Insolvency Service

The insolvency Service releases new statistics for Insolvencies in England and Wales for quarter 1 of 2019 ( January 2019 to March 2019) on 30 April 2019. The link to access the full report is here.

The report reveals some interesting statistics:

• Total underlying company insolvencies increased in Q1 2019. There were 4,187 total underlying company insolvencies in Q1 2019; this is 6.3% higher than in Q4 2018.
• Creditors’ voluntary liquidations (CVL), administrations and company voluntary arrangements (CVAs) all increased in Q1 2019, while compulsory liquidations decreased.
• CVLs which increased by 6.2% compared to Q4 2018 and administrations which were up 21.8%. CVAs also increased by 43.1%. Compulsory liquidations fell in Q1 2019 by 2.7%.
• CVAs increased from last quarter but are down compared to the same time last year.
• In the 12 months ending Q1 2019, 1 in 238 companies were liquidated
• Administrations increased to the highest level for 5 years.

The number of administrations increased by 21.8% in Q1 2019 to the highest quarterly level since Q1 2014. In Q1 2019 there were 451 administrations, 21.8% higher than Q4 2018; this was the highest number of administrations since Q1 2014.

The Insolvency Service shows a breakdown of Company insolvencies by industry. The wholesale and retail trade; repair of vehicles industry grouping saw the largest increase in underlying insolvencies, with 67 extra cases compared to the 12 months ending Q4 2018.

The administrative and support services grouping (66 additional insolvencies); manufacturing (58 additional insolvencies); and the accommodation and food services grouping (57 additional insolvencies).