Monthly UK insolvency statistics - December 2023

The individual and company December 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 – December 2023

In December 2023 there was a total of 2,002 registered company insolvencies in England and Wales, which included:

1,731 creditors’ voluntary liquidations (CVLs)
153 compulsory liquidations
103 administrations
15 company voluntary arrangements (CVAs)
0 receivership appointments

Overall company insolvencies in December 2023 were 2% higher when compared to December 2022.

In December 2023:

CVLs were 5% higher when compared to December 2022
compulsory liquidations were 18% lower when compared to December 2022
administrations were 8% lower when compared to December 2022
CVAs were 50% higher when compared to December 2022

Individual insolvency statistics for England and Wales – December 2023

In December 2023, there were 6,584 individual insolvencies, which was 20% lower than in December 2022. Personal insolvencies in December 2023 included:

3,616 IVAs
496 bankruptcies (386 debtor applications and 110 creditor petitions)
2,472 DROs

Individual voluntary arrangements (IVAs)

IVAs in December 2023 were 38% lower when compared to December 2022. IVA numbers in 2023 were lower than the record-high numbers in 2022.

Bankruptcies

Bankruptcies in December 2023 were 22% higher than in December 2022, with debtor applications 20% higher and creditor petitions 28% higher.

Debt relief orders

The number of DROs in December 2023 were 25% higher than in December 2022. It’s noted that DRO numbers were volatile in early 2023 at the time of introduction of new DRO hubs and increased in 2023 compared to 2022.

Company insolvency statistics for Scotland – December 2023

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in December 2023 there were 108 company insolvencies in total, 5% lower than the number in December 2022.

Total corporate insolvencies in Scotland in December 2023 consisted of:

40 compulsory liquidations
65 CVLs
3 administrations
0 CVAs
0 receivership appointments

Company insolvency statistics for Northern Ireland – December 2023

In Northern Ireland in December 2023 there were 25 company insolvencies. This was 67% higher than the number in December 2022. They consisted of:

17 CVLs
6 compulsory liquidations
1 CVA
1 administration
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – December 2023

There were 76 individual insolvencies in Northern Ireland in December 2023. This was 39% lower when compared to December 2022. They consisted of:

60 IVAs
10 bankruptcies
6 DROs

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’s Data Service provides timely official company, insolvency and deceased estates information to aid data driven decision-making. As the UK’s official public record, our authorised data can help your business with:

KYC / Due Diligence
Risk Management
Regulatory Compliance
Business Development
Business Intelligence and Strategy

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

Bespoke and historical data sets are available. Start your free one-month data service trial or find out more about The Gazette's Data Service by filling out our enquiry form or calling us on 01603 985949.

Enquire now