Latest monthly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies rose whilst personal insolvencies have declined.
In May 2023 there were 11 business insolvencies registered in Northern Ireland were 45% lower than in May 2022.
The insolvencies comprised of eight CVLs, two compulsory liquidations and one CVA. There were no administrations or receivership appointments.
The data showed that there were 188 personal insolvencies in Northern Ireland, 31% higher than in May 2022. The consisted of 154 IVAs, 15 DROs and 19 bankruptcies.