The Insolvency Service have released the latest statistics for the second quarter of 2021.
The data set out relates to both company insolvencies and individual insolvencies, from April to June 2021.
Some of the Government measures in response to the Pandemic continue to impact on the low numbers of insolvency events so far in 2021. It is anticipated that the changes from 1 October 2021, to allow some winding-up petitions to be presented against companies, may soon begin to have an effect.
Companies in Q2 of 2021
- The number of active companies who commenced liquidation from 1 July 2020 to 30 June 2021 decreased to 25.9 per 10,000 from 36.9 per 10,000 in the 12 months previous.
- There were 3,116 registered company insolvencies in Q2, this is 4% higher in comparison to the same quarter last year and 31% higher than Q1 for 2021. This is thought to be due to the rise in CVLs as the other company insolvency procedures were less in the previous quarter and the same for the quarter in the year before.
Individuals in Q2 of 2021
- The number of adults entering insolvency during the period of 12 months from 1 July 2020 to 30 June 2021 fell to 22.6 per 10,000 from 25.8 per 10,000 adults in the 12 months previously.
- There was a total of 27,662 individual insolvencies which included 20,910 IVAs, 2,385 bankruptcies and 4,367 DROs
- Overall there was a decrease in the number of individual insolvencies by 4% compared to Q1 of 2021 and a decrease of 14% in comparison to the same quarter last year.
Posted on September 22, 2021