Northern Irish business and personal insolvencies increase

The latest monthly statistics from the Insolvency Service have shown that business insolvencies increased by 54% and personal insolvencies increased by 41%.

The data shows that in July 2024 there were 20 business insolvencies registered in Northern Ireland, 54%, this was higher than in July 2023. The business insolvencies comprised of 10 CVLs, five compulsory liquidations, four administrations and one CVA.  There were no receivership appointments.

Personal insolvencies figures showed that there were 152 insolvencies in Northern Ireland. This was 41% higher than in July 2023.  There were 104 IVAs, 25 bankruptcies and 23 DROs.