Monthly UK insolvency statistics - October 2023

The individual and company October 2023 insolvency statistics for England and Wales have been published by the Insolvency Service, together with related insolvency figures for Scotland and Northern Ireland.

Company insolvency statistics for England and Wales – October 2023

In October 2023 there was a total of 2,315 registered company insolvencies in England and Wales, which included:

1,889 creditors’ voluntary liquidations (CVLs)
256 compulsory liquidations
23 company voluntary arrangements (CVAs)
146 administrations
1 receivership appointment

Overall company insolvencies in October 2023 were 18% higher when compared to October 2022.

In October 2023:

CVLs were 19% higher when compared to October 2022
compulsory liquidations were 2% higher when compared to October 2022
CVAs were four times higher when compared to October 2022
administrations were 36% higher when compared to October 2022

Individual insolvency statistics for England and Wales – October 2023

In October 2023, there were 9,881 individual insolvencies, which was 6% lower than in October 2022. Personal insolvencies in October 2023 included:

5,933 IVAs
703 bankruptcies (553 debtor applications and 150 creditor petitions)
3,245 DROs

Individual voluntary arrangements (IVAs)

IVAs in October 2023 were 27% lower when compared to October 2022. IVA numbers in 2023 to date have been lower than the record-high numbers in 2022.

Bankruptcies

Bankruptcies in October 2023 were 28% higher than in October 2022, with debtor applications 18% higher and creditor petitions 90% higher.

Debt relief orders

The number of DROs in October 2023 were 71% higher than in October 2022. It’s noted that DRO numbers were volatile in early 2023 at the time of introduction of new DRO hubs and are now higher than pre-2020 levels.

Company insolvency statistics for Scotland – October 2023

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in October 2023 there were 99 company insolvencies in total, 21% higher than the number in October 2022.

Total corporate insolvencies in Scotland in October 2023 consisted of:

35 compulsory liquidations
58 CVLs
4 administrations
2 CVAs
0 receivership appointments

Company insolvency statistics for Northern Ireland – October 2023

In Northern Ireland in October 2023 there were 27 company insolvencies. This was 80% higher than the number in October 2022. They consisted of:

12 CVLs
14 compulsory liquidations
1 administration
0 CVAs
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – October 2023

There were 125 individual insolvencies in Northern Ireland in October 2023. This was 22% lower when compared to October 2022. They consisted of:

94 IVAs
7 DROs
24 bankruptcies

Where can I see insolvency notices in The Gazette?

The Gazette is the primary source of both corporate insolvency and personal insolvency information in the UK and publishes this information in the form of insolvency notices, allowing transparency for the public, the credit industry and concerned individuals to quantify risk and inform creditors. You can view all corporate and personal insolvency notices on The Gazette website.

The Gazette also provides a Data Service provides accurate and timely information to aid data driven decision-making. Our data is helping organisations like yours in areas such as:

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Company due diligence
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Our clients include the likes of leading banks and financial institutions, government departments and credit reference agencies. You too can benefit from the following Gazette data:

Personal bankruptcy
Corporate insolvency
Deceased estates
Gazette first & final (strike-off information)
Notice of company incorporation

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