Monthly UK insolvency statistics - January 2024

The individual and company January 2024 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 – January 2024

In January 2024 there was a total of 1,769 registered company insolvencies in England and Wales, which included:

1,294 creditors’ voluntary liquidations (CVLs)
339 compulsory liquidations
120 administrations
16 company voluntary arrangements (CVAs)
0 receivership appointments

Overall company insolvencies in January 2024 were 5% higher when compared to January 2023.

In January 2024:

CVLs were 6% lower when compared to January 2023
compulsory liquidations were 66% higher when compared to January 2023
administrations were 40% higher when compared to January 2023
CVAs were 14% higher when compared to January 2023

Individual insolvency statistics for England and Wales – January 2024

In January 2024, there were 8,089 individual insolvencies, which was 4% higher than in January 2023. Personal insolvencies in January 2024 included:

4,528 IVAs
768 bankruptcies (606 debtor applications and 162 creditor petitions)
2,793 DROs

Individual voluntary arrangements (IVAs)

IVAs in January 2024 were 16% lower when compared to January 2023. IVA numbers in 2023 were lower than the record-high numbers in 2022.

Bankruptcies

Bankruptcies in January 2024 were 20% higher than in January 2023, with debtor applications 17% higher and creditor petitions 31% higher.

Debt relief orders

The number of DROs in January 2024 were 60% higher than in January 2023. DRO numbers have increased over the past year, with the annual 2023 number being a record high.

Company insolvency statistics for Scotland – January 2024

The Accountant in Bankruptcy, Scotland’s Insolvency Service, administers company insolvency in Scotland. They reported that in January 2024 there were 88 company insolvencies in total, 19% lower than the number in January 2023.

Total corporate insolvencies in Scotland in January 2024 consisted of:

34 compulsory liquidations
46 CVLs
7 administrations
1 CVA
0 receivership appointments

Company insolvency statistics for Northern Ireland – January 2024

In Northern Ireland in January 2024 there were 30 company insolvencies. This was 114% higher than the number in January 2023. They consisted of:

17 CVLs
8 compulsory liquidations
4 CVAs
1 administration
0 administrative receiverships

Individual insolvency statistics for Northern Ireland – January 2024

There were 112 individual insolvencies in Northern Ireland in January 2024. This was 7% lower when compared to January 2023. They consisted of:

76 IVAs
20 bankruptcies
16 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