Rise in number of Northern Ireland insolvent companies

The number of companies that entered insolvency in Northern Ireland during the run-up to Christmas is significantly up on last year.

There were 114 company insolvencies in the final three months of 2019. It represents a 56.2 per cent rise in company insolvencies compared with the same quarter in 2018.

Some 79 were cases of compulsory liquidations, up from 34 in the fourth quarter (Q4) of 2018. The number of creditors’ voluntary liquidations fell to 19 (down from 26).

There were 11 administrations and five CVAs (compulsory voluntary arrangements) over the same period.

Meanwhile, personal insolvencies also increased in between October and December. The 656 individual cases was 6.7 per cent up on the fourth quarter of 2018.