The number of registered company insolvencies across England and Wales April 2021 fell by 23% year-on-year to 925.
The figure also represents a 35% drop when compared to April 2019’s 1,429 as temporary restrictions on the use of “statutory demands and certain winding-up petitions” paired with “enhanced government financial support” kept both businesses and individuals afloat.
The total across England and Wales comprised 819 CLVs, 26 compulsory liquidations, 75 administrations, and five CVAs, as all types of insolvencies declined from both 2020 and 2019 levels.
As for the rest of the UK, which has “partly devolved” insolvency legislations, April 2021 saw 38 company insolvencies in Scotland, and five in Northern Ireland.
Scotland’s insolvencies show a 17% year-on-year decrease, and 63% drop when compared with April 2019.
As for Northern Ireland, its five company insolvencies represent a 67% year-on-year increase, but 74% decline in comparison to two years ago.
Individual insolvencies followed a similar trend, with April’s 1,425 DROs and 812 bankruptcies representing a 40% and 46% two-year decline respectively.