Credit, collections & insolvency news
Latest monthly statistics from the Insolvency Service have shown that business insolvencies increased whilst personal insolvencies fell in Northern Ireland in January 2024.
The data showed that there were 30 company insolvencies, more than twice as many as (114% higher than) in January 2023. The business insolvencies comprised of 17 CVLs, eight compulsory liquidations, four CVAs and one administration. There were no receivership appointments.
The personal insolvency figures showed that there were 112 individual insolvencies in Northern Ireland, this was 7% lower than in January 2023.
The insolvencies consisted of 76 IVAs, 20 bankruptcies and 16 DROs.