Credit, Collections & Insolvency News
Latest quarterly figures from the Insolvency Service for England & Wales have revealed the highest quarterly number of Creditors’ Voluntary Liquidations (CVLs) since the start of the time series in 1960, and a 14% increase in business failures in 2023 compared to 2022. Between 1st October and 31st December 2023 (Q4 2023), there were 6,788 business…
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Latest quarterly statistics from Accountant in Bankruptcy (AiB) have indicated that Scottish business insolvencies remained stable with only one insolvency more than the equivalent quarter of 2022. In Quarter 4 (Q4) 2023, there were 314 total business insolvencies in Scotland. The insolvencies comprised 105 compulsory liquidations, 196 CVLs, 12 administrations and one CVA. There were no…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales in December 2023 was 2,002, 2% higher than in the same month in the previous year (1,965 in December 2022). The business insolvencies consisted of 153 compulsory liquidations, 1,731 creditors’ voluntary liquidations (CVLs), 103 administrations and 15…
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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…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales in November 2023 increased by 6.4% in November 2023 to a total of 2,466 compared to October’s total of 2,317, and increased by 21.4% compared to November 2022’s figure of 2,032. Business insolvencies increased by 47.1% from…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland fell by 8%. In November 2023 there were 109 business insolvencies registered in Scotland, this was 8% lower than the number in November 2022. The insolvencies comprised of 30 compulsory liquidations, 74 CVLs and five administrations. There were no CVAs or receivership appointments.
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for October 2023 was 2,315, 18% higher than in the same month in the previous year (1,954 in October 2022). The business insolvencies consisted of 256 compulsory liquidations, 1,889 creditors’ voluntary liquidations (CVLs), 146 administrations, 23 company…
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Latest monthly statistics from the Insolvency Service have indicated that business insolvencies significantly increased whilst personal insolvencies figures fell. In October 2023 there were 27 business insolvencies registered in Northern Ireland, 80% higher than October 2022. The business insolvencies comprised of 12 CVLs, 14 compulsory liquidations and one administration. There were no CVAs or receivership appointments. There…
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Latest quarterly figures from the Insolvency Service for England & Wales have indicated business insolvencies in Quarter 3 (Q3) fell 1.8% on the previous quarter, The figures show between July and September 2023, there were 6,208 company insolvencies, made up of 4,965 creditors’ voluntary liquidations (CVLs), 735 compulsory liquidations, 466 administrations, 41 company voluntary arrangements…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased by 24% The figures in Quarter 3 (Q3) July to September 2023 showed 62 company insolvencies in Northern Ireland in Q3 2023, an increase of 24% from the same quarter of 2022. The business insolvencies comprised 30 compulsory liquidations, 23…
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RSM UK has predicted that insolvencies will continue to fall in the second half of the year, despite economic headwinds, with 5% fewer insolvencies in Q3. RSM’s Insolvency Predictor, which combines historic insolvency data with key economic indicators to accurately forecast insolvency trends, shows that overall business distress will reduce by 10% by the end…
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Latest figures from Accountant in Bankruptcy (AiB) has shown that business insolvencies in Scotland rose 19.9% in Quarter 2 (Q2) 2023-2024 when compared to pre-pandemic levels in 2019 and rose by 4.8% compared to the same period last year. Business insolvency numbers (liquidations and receiverships) increased by 4.8% compared with Q2 2022-2023, to a total…
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Allianz Trade has predicted that business insolvencies in the UK are set to increase in next few years. The report anticipates that business insolvencies in the UK will hover around 30% above pre-pandemic levels by 2025, with notable peaks expected in 2024 (29,850 cases i.e. +5%) and 2025 (28,400 cases i.e. -5%). The rise is…
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