The number of registered company insolvencies in England and Wales in March 2021 was 992, a year-on-year decline of 20%.
The total comprised 883 CVLs, 25 compulsory liquidations, 74 administrations, and 10 CVAs.
This represents an 86% decline in compulsory liquidations, a 3% fall in CVLs, and a 44% decrease to both CVAs and administrations when compared to March 2020.
As for Scotland, which has a partly devolved insolvency legislation, company insolvencies dropped 43% year-on-year to 43 in March 2021.
Included in the 43 insolvencies were 11 compulsory liquidations, 27 CVLs, four administrations, and one CVA.
A similar pattern occurred in Northern Ireland, with March 2021’s seven company insolvencies representing a 77% year-on-year fall.
Individual insolvencies across England and Wales declined 31% to 1,591 DROs and 1,028 bankruptcies in March 2021.