© tom schmucker Business | November 05, 2015

Q3 insolvency figures for the UK: further decrease

The Insolvency Service has released insolvency statistics for July to September 2015, detailing that figures for England and Wales for companies continue to decrease.

Key findings for Q3 2015
  • Company insolvencies continued to decrease: An estimated total of 3,539 companies entered insolvency in Q3 2015, which was 4.4% less than Q2 2015 and 10.2% lower than Q3 2014.
  • Compulsory liquidations decreased to their lowest level since Q3 1989: A total of 612 companies were subject to a compulsory winding-up order in Q3 2015, a 20.4% decrease on the previous quarter and 29.2% lower than Q3 2014. This was the main driver of the decrease in total company insolvencies.
  • Creditors’ voluntary liquidations have been decreasing since Q2 2013: An estimated 2,451 companies entered creditors’ voluntary liquidation in Q3 2015, a 0.7% decrease on the previous quarter and 4.3% lower compared to the same period in 2014.
  • Administrations and CVAs decreased on the year.: There were an estimated 363 administrations in Q3 2015, a decrease of 2.4% compared to the previous quarter and 5.5% lower than the same quarter last year. There were an estimated 111 CVAs in Q3 2015, an increase of 32.1% on the previous quarter and 14.6% lower than Q3 2014. There was an estimated one administrative receivership.
  • The liquidation rate was at its lowest level since comparable records began: The estimated liquidation rate in the 12 months ending Q3 2015 was 0.46% of active companies, the lowest level since comparable records began in Q4 1984.
© The Insolvency Service
Load more news
June 09 2020 11:27 am V18.6.11-2