Insolvency Service publishes monthly insolvency statistics for November 2021

Article summary

The Insolvency Service has published its monthly insolvency statistics for November 2021, which contain data on company and individual insolvencies. The statistics show that there were 1,674 registered company insolvencies, 88% higher than November 2020 and 11% higher than the number (1,509) registered pre-pandemic in November 2019. For the first time since the coronavirus (COVID-19) pandemic began, the monthly number of registered company insolvencies was higher than pre-pandemic levels. This was driven by the higher number of creditors’ voluntary liquidations (CVLs). In November 2021, there were 1,521 CVLs, 43% higher than in November 2019. Other types of company insolvencies, such as compulsory liquidations, remained lower than before the pandemic. In addition, there were 630 bankruptcies registered in November 2021, which was 33% lower than November 2020 and 54% lower than November 2019. There were 2,054 Debt Relief Orders (DRO) registered in November 2021, 44% higher than November 2020 but 13% lower than pre-pandemic...