Insolvency Service publishes monthly insolvency statistics for July 2021

Article summary

The Insolvency Service has published its monthly statistics for July 2021, which contain data on company and individual insolvencies. The statistics show that there were 1,094 registered company insolvencies, 13% higher than July 2020 but a 24% decrease in comparison to June 2019. The overall reduction in company insolvencies compared to July 2019 was driven mostly by the lower number of compulsory liquidations. In addition, there were 620 bankruptcies and 1,864 Debt Relief Orders (DRO) registered in July 2021. The statistics highlight that the number of bankruptcies was 34% lower than July 2020 and DRO numbers were 58% lower than July 2020. The data further shows that in the three-month period ending July 2021, there were, on average 6,841 Individual Voluntary Agreements registered per month.