Latest 3rd Quarter Insolvency Statistics
COMPANY INSOLVENCIES
There were 4,001 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the third quarter of 2008 (on a seasonally adjusted basis). This was an increase of 10.5% on the previous quarter and an increase of 26.3% on the same period a year ago.
This was made up of 1,483 compulsory liquidations (which are up 10.9% on the previous quarter and 16.1% on the corresponding quarter of the previous year), and 2,518 creditors voluntary liquidations (which are up 10.2% on the previous quarter and 33.2% on the corresponding quarter of the previous year).
In the twelve months ending Q3 2008, 0.6% of active companies went into liquidation, the same as the previous quarter and the corresponding quarter of 2007.
| Table I. Company Liquidations in England and Wales (seasonally adjusted) 1 | ||||||||
|
|
|
|
|
|
% change - Q3 2008 on |
|||
|
Q3 2007 |
Q4 2007 |
Q1 2008 |
Q2 2008 r |
Q3 2008 p |
Q3 2007 |
Q2 2008 |
||
| Company Liquidations |
3,167 |
3,039 |
3,189 |
3,622 |
4,001 |
26.3 |
10.5 |
|
| of which: | Compulsory |
1,277 |
1,162 |
1,106 |
1,337 |
1,483 |
16.1 |
10.9 |
|
|
Creditors Voluntary2 |
1,890 |
1,877 |
2,084 |
2,285 |
2,518 |
33.2 |
10.2 |
| Source: Insolvency Service and Companies Housep = provisional, r = revised 1 Longer series back to 1998 are presented in the accompanying detailed tables. 2 Where the CVL is the first insolvency procedure entered into (see Notes to Editors). |
||||||||
Additionally, there were 1,444 other corporate insolvencies in the third quarter of 2008 (not seasonally adjusted) comprising 270 receiverships, 1,007 administrations and 167 company voluntary arrangements. In total these represented an increase of 64.7% on the same period a year ago.
| Table II. Other Corporate Insolvencies in England and Wales (not seasonally adjusted) 1 | |||||||
|
|
|
|
|
|
% change - Q3 2008 on |
||
|
Q3 2007 |
Q4 2007 |
Q1 2008 |
Q2 2008 |
Q3 2008 p |
Q3 2007 |
||
| Receiverships2 | 80 | 92 |
159 |
177 |
270 | 237.5 | |
| Administrations3 | 668 | 575 |
859 |
938 |
1,007 | 50.7 | |
| Company voluntary arrangements | 129 | 91 |
140 |
131 |
167 | 29.5 | |
| Source: Companies Housep = provisional, r = revised 1 Longer series back to 1998 are presented in the accompanying detailed tables. 2 Includes Law of Property Act receivers (see “Notes to Editors” paragraph 9). 3 Includes Administrator Appointments. |
|||||||
Note: The figures in Table II are not seasonally adjusted and are not, therefore, on the same basis as the headline figures in Table I. The accompanying detailed tables also include the non-seasonally adjusted series for corporate liquidations
Tags: adminisatration, Company Voluntary Arrangement, creditors voluntary liquidation, cva, CVL
Call us for FREE advice on 0800 680 0759
8am - 7pm Monday to Friday
Or fill out the form below and we will call you back