Northern Irish business insolvencies increase whilst personal insolvencies fall

Latest monthly statistics from the Insolvency Service have shown that business insolvencies increased whilst personal insolvencies fell in Northern Ireland in December 2023.

The data showed that there were 25 business insolvencies registered in Northern Ireland, this was 67% higher than December 2022. The insolvencies comprised of 17 CVLs, six compulsory liquidations, one CVA and one administration. There were no receivership appointments.

The personal insolvency figures showed 76 individual insolvencies in Northern Ireland, 39% lower than in December 2022.

The personal insolvencies consisted of 60 IVAs, 10 bankruptcies and six DROs.