Latest monthly statistics from the Insolvency Service have indicated that business insolvencies significantly increased whilst personal insolvencies figures fell.
In October 2023 there were 27 business insolvencies registered in Northern Ireland, 80% higher than October 2022. The business insolvencies comprised of 12 CVLs, 14 compulsory liquidations and one administration.
There were no CVAs or receivership appointments.
There were 125 personal insolvencies in Northern Ireland, 22% lower than in October 2022. The personal insolvencies consisted of 94 IVAs, seven DROs and 24 bankruptcies.