Northern Irish business insolvencies increased whilst personal insolvencies remained stable in 2024

22nd January 2025

Annual statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased whilst personal insolvencies figures remained similar to the numbers in 2023.

The annual number of business insolvencies in Northern Ireland in 2024 was 305, a 40% increase from 2023 (218 in total).

In December 2024 there were 23 business insolvencies registered in Northern Ireland, 4% lower than in December 2023.

The total number of business insolvencies comprised of 17 CVLs, four compulsory liquidations, one CVA and one administration.

Personal insolvency figures for December 2024 showed that there were 101 personal insolvencies. This was 33% higher than in December 2023.

There were 84 IVAs, eight bankruptcies and nine DROs.