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Insolvency Statistics Quarter Four, 2019 Released

Here is a summary of some key points from the 2019 stats released today:

PERSONAL INSOLVENCY - 2019

  • In 2019, total individual insolvencies increased to their highest annual level since 2010
  • This was fourth consecutive year on year increase with a rise of 6% compared to 2018, making 122,181 individual insolvencies
  • This was largely driven by a 9.8% increase in Individual Voluntary Arrangements to 77,982 which reached their highest year on record since IVAs began in 1987
  • Bankruptcies increased slightly (0.6%) compared to 2018 at 16,702
  • Bankruptcies remain low compared to the 2009 high of 74,670
  • Debt Relief Orders decreased slightly (0.7%)
  • In 2019 IVAs accounted for 63.8% of all insolvencies, compared to 2010 when that figure was only 37.5%

PERSONAL INSOLVENCY - QUARTER FOUR 2019

  • There were 29,261 individual insolvencies in quarter four of 2019, 4.3% lower than in quarter three 2019.
  • In comparison to the same quarter in 2018 there has been a decrease of 15.6%
  • This was mainly caused by a decrease of IVAs (decreasing by 7.2% to 18,197 from quarter three

CORPORATE INSOLVENCY -  2019

  • Company insolvencies at highest level since 2013
  • There were 17,196 company insolvencies in 2019, a 6.8% increase on 2018
  • CVLs at highest level since 2009 with an 8.2% increase on 2018, at 12,060 cases
  • Administrations at highest level since 2013, up 24.0% at 1,814
  • Compulsories down 5.4% at 2,970
  • CVAs down 1.1% at 351
  • Only 1 Admin Receivership in 2019
  • CVLs represented 70.1% of company insolvencies up from 57.9% in 2010

CORPORATE INSOLVENCY - QUARTER FOUR 2019

  • Company insolvencies down 1.8% on quarter three of 2019
  • But up 8.1% on the same quarter in 2018
  • CVLs down 0.9% on quarter three
  • Compulsories down for fourth successive quarter and down 21.8% on same quarter 2018
  • CVA levels remain stable with 77 in quarter four compared with 89 in quarter 3 and 65 this time last year
  • Administrations down 2.1% on quarter three at 474
  • Administrations well up (26.9%) on quarter four 2018 and second highest level in 6 years
  • In quarter four, 71.7% were CVLs, 15.4% Compulsories and 12.9% other insolvencies

The full statistics for individuals can be found here

The full statistics for companies can be found here

Individual and Company insolvencies continue to rise and it is set to be a busy time for Insolvency Practitioners. NTI are seeing a significant increase in students this year reflecting the need for qualified people.

It will be interesting to see how HMRC's return to preferential status will affect insolvency numbers, particularly HMRC petitions and QFC appointments of Administrators. 

 

 

Posted: 30.01.2020
Tags:  announcement
 


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