Credit, Collections & Insolvency News
Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies continue to remain low in comparison to previous years.
In March 2021 there were 184 personal insolvencies in Northern Ireland, this was 82% higher than March 2020 but 19% lower than March 2019; this consisted of 140 IVAs, 36 DROs and 8 bankruptcies.
The number of personal insolvencies have remained low since the start of the first UK lockdown in March 2020.
Business insolvencies also remained lower than pre-pandemic levels. In March 2021 there were seven business insolvencies registered in Northern Ireland, 77% lower than in both March 2020 and March 2019. This comprised of five CVLs, one administration and one CVA. There were no compulsory liquidations or receivership appointments.