Northern Irish business insolvencies rise by 75% whilst personal insolvencies decline

18th November 2021

Latest statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased by 75% whilst personal insolvencies declined by 1% in the latest monthly figures.

In October 2021 there were 102 personal insolvencies in Northern Ireland, 11% lower than October 2020 and 56% lower than October 2019. This consisted of 95 IVAs, four DROs and three bankruptcies.

Whilst there were 14 business insolvencies registered in Northern Ireland in October. This was 75% higher than in October 2020 but 73% lower than October 2019. This is comprised of one administration, one compulsory liquidation and 12 CVLs. There were no CVAs or receivership appointments.