COMPANY INSOLVENCIES
There were 4,080 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the second quarter of 2010 (on a seasonally adjusted basis). This was an increase of 0.5% on the previous quarter and a decrease of 19.1% on the same period a year ago.
This was made up of 1,169 compulsory liquidations (which are down 9.9% on the previous quarter and down 21.0% on the corresponding quarter of the previous year), and 2,911 creditors voluntary liquidations (which are up 5.4% on the previous quarter and down 18.3% on the corresponding quarter of the previous year).
In the twelve months ending Q2 2010, approximately 1 in 127 active companies (or 0.8%) went into liquidation, which is a slight decrease from the previous quarter, when this figure stood at 1 in 120.
Additionally, there were 1,311 other corporate insolvencies in the second quarter of 2010 (not seasonally adjusted) comprising 302 receiverships, 777 administrations and 232 company voluntary arrangements. In total these represented a decrease of 14.3% on the same period a year ago.
| COMPANY INSOLVENCIES |
There were 4,080 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the second quarter of 2010 (on a seasonally adjusted basis). This was an increase of 0.5% on the previous quarter and a decrease of 19.1% on the same period a year ago.
This was made up of 1,169 compulsory liquidations (which are down 9.9% on the previous quarter and down 21.0% on the corresponding quarter of the previous year), and 2,911 creditors voluntary liquidations (which are up 5.4% on the previous quarter and down 18.3% on the corresponding quarter of the previous year).
In the twelve months ending Q2 2010, approximately 1 in 127 active companies (or 0.8%) went into liquidation, which is a slight decrease from the previous quarter, when this figure stood at 1 in 120.
| Table I. Company Liquidations in England and Wales (seasonally adjusted) 1 | ||||||||
|
% change – Q2 2010 on |
||||||||
|
2009 Q2 |
2009 Q3 |
2009 Q4 |
2010 Q1 r |
2010 Q2 p |
Q2 2009 |
Q1 2010 |
||
| Company Liquidations |
5,041 |
4,615 |
4,457 |
4,060 |
4,080 |
-19.1 |
0.5 |
|
| of which: | Compulsory |
1,480 |
1,289 |
1,331 |
1,298 |
1,169 |
-21.0 |
-9.9 |
| Creditors’ Voluntary2 |
3,561 |
3,326 |
3,126 |
2,762 |
2,911 |
-18.3 |
5.4 |
|
| Source: Insolvency Service and Companies House p = provisional, r = revised 1 Longer series back to 2000 are presented in the accompanying detailed tables. 2 Where the creditors’ voluntary liquidation is the first insolvency procedure entered into (see Notes to Editors). |
||||||||
Additionally, there were 1,311 other corporate insolvencies in the second quarter of 2010 (not seasonally adjusted) comprising 302 receiverships, 777 administrations and 232 company voluntary arrangements. In total these represented a decrease of 14.3% on the same period a year ago.
| Table II. Other Corporate Insolvencies in England and Wales (not seasonally adjusted) 1 | |||||||
|
% change – Q2 2010 on |
|||||||
|
2009 Q2 |
2009 Q3 |
2009 Q4 |
2010 Q1 |
2010 Q2 p |
Q2 2009 |
||
| Receiverships2 |
345 |
410 |
397 |
356 |
302 |
-12.5 |
|
| Administrations3 |
1,027 |
974 |
849 |
783 |
777 |
-24.3 |
|
| Company voluntary arrangements |
157 |
194 |
219 |
204 |
232 |
47.8 |
|
| Source: Companies House p = provisional, 1 Longer series back to 2000 are presented in the accompanying detailed tables. 2 Includes Law of Property Act receivers (see “Notes to Editors” paragraph 9). 3 Includes Administrator Appointments. |
|||||||
INDIVIDUAL INSOLVENCIES (not seasonally adjusted – see ‘Notes to Editors’ paragraph 13)
There were 34,743 individual insolvencies in England and Wales in the second quarter of 2010. This was an increase of 5.0% on the same period a year ago.
This was made up of 14,982 bankruptcies (which were down 20.6% on the corresponding quarter of the previous year), 13,466 Individual Voluntary Arrangements (IVAs), (which were up 10.2% on the corresponding quarter of the previous year) and 6,295 Debt Relief Orders (DROs)