Credit, Collections & Insolvency News
Latest monthly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies increased in October.
In October 2022 there were 161 personal insolvencies in Northern Ireland, 58% higher than in October 2021, but 31% lower than October 2019. The insolvencies consisted of 145 IVAs, 11 DROs and five bankruptcies.
Business insolvency figures show that there were 15 company insolvencies registered in Northern Ireland, this is 7% higher than in October 2021 but 71% lower than October 2019.
The business insolvencies comprised of 12 CVLs and three administrations. There were no compulsory liquidations, CVAs or receivership appointments.