Administrations

Company insolvencies rise 7% in May

Despite representing the first year-on-year increase in 2021, the figure remained 25% lower than May 2019 levels

The number of company insolvencies across England and Wales in May rose 7% year-on-year to 1,011.

Despite representing the first year-on-year increase in 2021, the figure remained 25% lower than May 2019 levels.

The company insolvencies throughout England and Wales consisted of 31 compulsory liquidations, 930 CLVs, six CVAs, 43 administrations, and one receivership appointment.

Scotland and Northern Ireland, which operate with “partly devolved” legislation to the rest of the UK, saw 51 and seven company insolvencies respectively in May 2021.

Composed of eight compulsory liquidations, 37 CVLs, five administrations, and one CVA, Scotland’s company insolvencies represented a 46% year-on-year rise, but a 35% two-year fall.

With one compulsory liquidation and six CVLs, Northern Ireland saw company insolvencies climb 40% year-on-year, but drop 83% when compared to 2019.

As for individual DROs and bankruptcies across England and Wales, DROs fell 33% from 2019, while bankruptcies declined 50% for the same period.

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