Main messages for England and Wales

• After seasonal adjustment, the number of registered company insolvencies in England and Wales was 2,035 in February 2025, 3% higher than in January 2025 (1,978) but 7% lower than the same month in the previous year (2,188 in February 2024). Company insolvencies over the past year have been slightly lower than in 2023, which saw a 30-year high annual number, but have remained high relative to historical levels.

• Company insolvencies in February 2025 consisted of 393 compulsory liquidations, 1,520 creditors’ voluntary liquidations (CVLs), 115 administrations and 7 company voluntary arrangements (CVAs). There were no receivership appointments. Compulsory liquidations were higher than in January 2025, while CVLs, administrations and CVAs were lower. The (seasonally adjusted) number of compulsory liquidations in February 2025 was the highest monthly number since September 2014.

• One in 191 companies on the Companies House effective register (at a rate of 52.4 per 10,000 companies) entered insolvency between 1 March 2024 and 28 February 2025. This was a decrease from the 57.6 per 10,000 companies that entered insolvency in the 12 months ending 29 February 2024. Insolvency rates are calculated on a 12-month rolling basis as a proportion of the total number of companies on the effective register. The 12-month rolling rates show longer term trends and reduce the volatility associated with estimates based on single months.

• While the insolvency rate has increased since the lows seen in 2020 and 2021, it remains much lower than the peak of 113.1 per 10,000 companies seen during the 2008-09 recession. This is because the number of companies on the effective register has more than doubled over this period.

Main messages for England and Wales

• The number of registered company insolvencies in England and Wales was 2,053 in April 2025, 3% higher than in March 2025 (1,996) but 5% lower than the same month in the previous year (2,163 in April 2024). Company insolvencies over the past 12 months have been slightly lower than in 2023, which saw a 30-year high annual number, but have remained high relative to historical levels.

• Company insolvencies in April 2025 consisted of 379 compulsory liquidations, 1,544 creditors’ voluntary liquidations (CVLs), 105 administrations, 24 company voluntary arrangements (CVAs) and one receivership appointment. The (seasonally adjusted) number of compulsory liquidations in April 2025 was the highest monthly number since September 2014. The number of CVLs in April 2025 was similar to both March 2025 and the 2024 monthly average. Administrations were lower than in March 2025, while CVAs were higher.

• One in 190 companies on the Companies House effective register (at a rate of 52.5 per 10,000 companies) entered insolvency between 1 May 2024 and 30 April 2025. This was a decrease from the 57.0 per 10,000 companies that entered insolvency in the 12 months ending 30 April 2024. Insolvency rates are calculated on a 12-month rolling basis as a proportion of the total number of companies on the effective register. The 12-month rolling rates show longer term trends and reduce the volatility associated with estimates based on single months.

• While the insolvency rate has increased since the lows seen in 2020 and 2021, it remains much lower than the peak of 113.1 per 10,000 companies seen during the 2008-09 recession. This is because the number of companies on the effective register has more than doubled over this period.

Main Messages for England and Wales

The number of registered company insolvencies in May 2023 was 2,552, 40% higher than in the same month in the previous year (1,825 in May 2022). This was higher than levels seen while the Government support measures were in place in response to the coronavirus (COVID-19) pandemic and also higher than pre-pandemic numbers.

There were 189 compulsory liquidations in May 2023, 34% higher than in May 2022. Numbers of compulsory liquidations have increased from historical lows seen during the coronavirus pandemic, partly as a result of an increase in winding-up petitions presented by HMRC.

In May 2023 there were 2,181 Creditors’ Voluntary Liquidations (CVLs), 38% higher than in May 2022. Numbers of administrations and Company Voluntary Arrangements (CVAs) were higher than in May 2022.

For individuals, 617 bankruptcies were registered, which was 5% higher than in May 2022, and around half of pre-2020 levels.

There were 2,505 Debt Relief Orders (DROs) in May 2023, which was 23% higher than May 2022. Monthly DRO numbers may be volatile at present due to the introduction of new https://moneyandpensionsservice.org.uk/2022/11/24/money-and-pensions-service-signs-contracts-for-national-and-business-debt-advice-services-and-the-administration-of-debt-relief-orders-in-england/" class="govuk-link">DRO hubs.

There were, on average, 6,767 Individual Voluntary Arrangements (IVAs) registered per month in the three-month period ending May 2023, which is 14% lower than the three-month period ending May 2022.

The numbers provided in this publication are not seasonally adjusted and changes between consecutive months may not indicate overall trends. Therefore, in this publication we compare to the same calendar month in the previous year. Seasonally adjusted figures that more accurately measure trends over time are available in the "https://www.gov.uk/government/collections/insolvency-service-official-statistics" class="govuk-link">quarterly insolvency statistics.

Main messages for England and Wales

• In April 2025, 10,012 individuals entered insolvency in England and Wales. This was 8% higher than in March 2025 and 4% higher than in April 2024.

• The individual insolvencies consisted of 589 bankruptcies, 3,837 debt relief orders (DROs) and 5,586 individual voluntary arrangements (IVAs). DRO numbers in April 2025 remained similar to the record high levels seen over the past 12 months. The number of IVAs registered in April 2025 was similar to the average monthly number seen in 2024. Bankruptcy numbers remained at about half of pre-2020 levels and were also 11% lower than in April 2024.

• In the 12 months ending 30 April 2025, one in 417 adults in England and Wales entered insolvency (at a rate of 24.0 per 10,000 adults). This is higher than the rate of 21.6 per 10,000 adults (one in 463) who entered insolvency in the 12 months ending 30 April 2024.

• There were 7,273 Breathing Space registrations in April 2025. This is 5% lower than in April 2024.

The number of registered company insolvencies in April 2022 was 1,991:

• More than double the number registered in the same month in the previous year (925 in April 2021), and
• 39% higher than the number registered three years previously (pre-pandemic; 1,429 in April 2019).

In April 2022 there were 1,777 Creditors’ Voluntary Liquidations (CVLs), more than double the number in April 2021 and 74% higher than April 2019. Numbers for other types of company insolvencies, such as compulsory liquidations, remained lower than before the pandemic, although there were three times as many compulsory liquidations in April 2022 compared to April 2021, and the number of administrations was 51% higher than a year ago.

For individuals, 530 bankruptcies were registered, which was 36% lower than in April 2021 and 64% lower than April 2019.

There were 1,708 Debt Relief Orders (DROs) in April 2022, which was 20% higher than in April 2021 and 29% lower than the pre-pandemic comparison month (April 2019). This increase is linked to "https://www.gov.uk/government/news/new-measures-to-help-vulnerable-people-in-problem-debt" class="govuk-link">changes to the eligibility criteria on 29 June 2021 including an increase in the level of debt at which people can apply for a DRO from £20,000 to £30,000.

There were, on average, 7,516 IVAs registered per month in the three-month period ending April 2022, which is 10% higher than the three-month period ending April 2021, and 22% higher than the three-month period ending April 2019. IVA numbers have ranged from around 6,300 to 7,500 per month over the past year.

Between the launch of the Breathing Space scheme on 4 May 2021, and 30 April 2022, there were 63,856 registrations, comprised of 62,843 Standard breathing space registrations and 1,013 Mental Health breathing space registrations.