Credit, Collections & Insolvency News
Latest monthly statistics from the Insolvency Service have shown that business insolvencies increased three-fold, whilst personal insolvencies remained stable in Northern Ireland in April 2024.
The data showed that there were 33 company insolvencies registered in Northern Ireland, more than three times as many as (267% higher than) in April 2023. The insolvencies comprised of 12 CVLs, 17 compulsory liquidations, 2 CVAs and 2 administrations. There were no receivership appointments.
The total insolvency rate was 36.6 per 10,000 companies over the past 12 months. This is an increase of 9.2 from the past 12 months.
The personal insolvency figures showed that there were 112 individual insolvencies in Northern Ireland. This was the same as in April 2023. The personal insolvency figures comprised of 84 IVAs, 20 bankruptcies and 8 DROs.