Statistics Release: Insolvencies In The Third Quarter 2007

fermi

For those who are interested.

From: http://www.insolvency.gov.uk/otherinformation/statistics/200711/index.htm

Statistics showing insolvencies in the third quarter 2007 are published today (2 November) by the Insolvency Service.

INDIVIDUAL INSOLVENCIES
There were 26,072 individual insolvencies in England and Wales in the third quarter of 2007 on a seasonally adjusted basis. This was a decrease of 3.0% on the previous quarter and a decrease of 5.0% on the same period a year ago.
This was made up of 15,833 bankruptcies, a decrease of 2.1% on the previous quarter and an increase of 2.2% on the corresponding quarter of the previous year, and 10,239 Individual Voluntary Arrangements (IVAs), a decrease of 4.3% on the previous quarter and a decrease of 14.3% on the corresponding quarter of the previous year.

COMPANY LIQUIDATIONS
There were 3,106 liquidations in England and Wales in the third quarter of 2007 on a seasonally adjusted basis. This was an increase of 1.8% on the previous quarter and a decrease of 4.4% on the same period a year ago.

This was made up of 1,264 compulsory liquidations, a decrease of 5.8% on the previous quarter and a decrease of 5.4% on the corresponding quarter of the previous year, and 1,842 creditors voluntary liquidations, an increase of 7.7% on the previous quarter and a decrease of 3.8% on the corresponding quarter of the previous year.

0.6% of active companies went into liquidation in the twelve months ended Q3 2007, the same as the previous quarter and down from 0.7% in the corresponding quarter of 2006.



Full details and source data on the link above.

Plus a BBC news article here: http://news.bbc.co.uk/1/hi/business/7074478.stm

NekoZombie

Well, it seems to suggest people are getting into slightly less trouble than before. Less bankruptcy is good news, but I almost can't believe it.

fermi

NekoZombie wrote: »

Well, it seems to suggest people are getting into slightly less trouble than before. Less bankruptcy is good news, but I almost can't believe it.

The big drop is in IVA's. I think people (and the banks) are becoming wise to them, plus the advertising standards agencies have put their foot down a bit.

Actual bankruptcies are UP 2.2% on the same period last year.

Q3 2006 = 15,486, while Q3 2007 =15,833

fiveyearplan

I read that on the internet (MSN homepage) and it made interesting reading.