published today (4 August) by the Insolvency Service.
There were 3,265 liquidations in England and Wales in the second quarter
of 2006 on a seasonally adjusted basis. This was a decrease of 4.9% on the
previous quarter and a decrease of 3.3% on the same period a year ago.
This was made up of 1,226 compulsory liquidations, a decrease of 13.7% on
the previous quarter and a decrease of 7.4% on the corresponding quarter of
the previous year, and 2,038 creditors voluntary liquidations, an increase
of 1.4% on the previous quarter and a decrease of 0.6% on the corresponding
quarter of the previous year.
0.7% of active companies went into liquidation in the twelve months ended
Q2 2006, the same as the previous quarter and the same as the corresponding
quarter of 2005.
INDIVIDUAL INSOLVENCIES
There were 26,021 individual insolvencies in England and Wales in the second
quarter of 2006 on a seasonally adjusted basis. This was an increase of 10.0%
on the previous quarter and an increase of 66.3% on the same period a year ago.
This was made up of 14,915 bankruptcies, a decrease of 3.3% on the previous
quarter and an increase of 32.5% on the corresponding quarter of the previous
year, and 11,105 Individual Voluntary Arrangements (IVA's), an increase of
34.9% on the previous quarter and an increase of 153.2% on the corresponding
quarter of the previous year.
Details of insolvency research and evaluation
can be found on the Insolvency Service website at
www.insolvency.gov.uk/insolvencyprofessionandlegislation/insolvencylaw.htm
