Northern Irish personal insolvencies rise whilst business insolvencies fall

The latest monthly statistics from the Insolvency Service have shown that personal insolvencies rose by 30%, while business insolvencies fell by 47%.

The data showed that in November 2024 there were 16 business insolvencies registered in Northern Ireland, 47% lower than in November 2023. The business insolvencies was comprised of three compulsory liquidations, 10 CVLs, two CVAs and one administration. There were no receivership appointments.

The personal insolvency data showed that there were 144 personal insolvencies in Northern Ireland. This was 30% higher than in November 2023.
The insolvencies comprised of 78 IVAs, 41 bankruptcies and 25 DROs.