Credit, Collections & Insolvency News
Latest quarterly figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 30%. After seasonal adjustment, the number of business insolvencies in Quarter 4 (Q4) 2022 was 7% higher than in Q3 2022 and 30% higher than in Q4 2021. The number of CVLs remained close…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales were 32% higher than in the same month in the previous year (1,489 in December 2021) and 75.5% higher than December 2019 (1,119). Business insolvencies fell 3.25% in December 2022 to a total of 1,964 compared to…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 4.2% in November 2022 to a total of 2,029 compared to October’s total of 1,948, and increased by 21.1% compared to November 2021’s figure of 1,676, and by 34.8% compared to November 2019’s total of 1,505.…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales were 38% higher than in the same month in the previous year (1,410 in October 2021), and 32% higher than the number registered three years previously (pre-pandemic; 1,477 in October 2019). The number of registered company insolvencies…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in October. The figures show that there were 82 business insolvencies registered in Scotland, 22% higher than the number in October 2021 and 1% higher than in October 2019. The business insolvencies comprised of 19 compulsory…
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More than two out of every five (41%) established small and medium businesses (those with between 10 and 100 employees) across the UK expect to shut their doors permanently, be forced to conduct mass redundancies or close locations within the next 12 months. Whilst more than one in three (39%) fear their business will be…
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Latest quarterly figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales, fell by 0.9% compared to Quarter 2s (Q2) figures of 5,645 and a 40.3% increase compared to Q3 2021 (3,987). Q3 2022’s figures were also 27.9% higher than Q3 2019’s figure of 4,375. The number of…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies increased in Quarter 3 (Q3) of 2022. The figures showed that there were 50 business insolvencies in Q3 2022, an increase of 47% from the same quarter of 2021. The business insolvencies comprised 38 CVLs, five compulsory liquidations,…
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Analysis by Mazars has found that energy providers have forced 20 businesses to close over unpaid energy bills in the last four months. This marks a 186% increase on the same period last year. If an energy firm is owed money by a commercial customer, they can use a “winding up petition” to close the…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 16% in September when compared to the same month in the previous year (1,453 in September 2021), and 11% higher than the number registered three years previously (pre-pandemic; 1,508 in September 2019). In September 2022…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in September. The figures showed that there were 103 company insolvencies registered in Scotland, 47% higher than the number in September 2021 and 36% higher than in September 2019. This was comprised of 25 compulsory liquidations,…
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Total business insolvencies in England and Wales in the second quarter of 2022 hit their highest quarterly level since 2009 at 5,629. According to latest ONS data, although insolvencies decreased in 2020 thanks to government support packages, Creditors’ Voluntary Liquidations (CVLs) have hit a new high. CVLs accounted for 89% of all company insolvencies in…
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New UKHospitality, has highlighted the sector’s struggle to survive, with one in five businesses saying they will not survive the current crisis and t in five operators admitting they are no longer profitable. The figures emerged from a recent survey of operators in the sector, which showed that, on top of energy price rises, the…
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