INSOLVENCIES IN THE FOURTH QUARTER 2009
Unfortunately, business failures are a fact of life and it's sensible to be prepared; one way to do this is to stay in touch with what's happening in the economy. To help you do that we will keep this section updated with the latest information provided by the Insolvency Service.
Statistics showing insolvencies in the fourth quarter of 2009 were published on the 5 February 2010 by the Insolvency Service.
COMPANY INSOLVENCIES
There were 4,566 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the fourth quarter of 2009 (on a seasonally adjusted basis). This was a decrease of 1.7% on the previous quarter and a decrease of 1.1% on the same period a year ago.
This was made up of 1,338 compulsory liquidations (which are up 2.7% on the previous quarter but down 14.2% on the corresponding quarter of the previous year), and 3,228 creditors voluntary liquidations (which are down 3.5% on the previous quarter but up 5.7% on the corresponding quarter of the previous year).
In the twelve months ending Q4 2009, approximately 1 in 114 active companies (or 0.9%) went into liquidation, which is approximately the same as the previous quarter.
Table I. Company Liquidations in England and Wales (seasonally adjusted)1
| |
% change – Q4 2009 on |
| |
08Q4 |
09Q1r |
09Q2r |
09Q3r |
09Q4p |
Q4 2008 |
Q3 2009 |
| Company Liquidations |
4,615
|
4,919
|
4,944
|
4,949
|
4,648
|
-1.1
|
-1.7
|
| of which: |
Compulsory |
1,560 |
1,560 |
1,442 |
1,303 |
1,338 |
-14.2 |
2.7 |
| Creditors' Voluntary2
|
3,055 |
3,359 |
3,502 |
3,345 |
3,228 |
5.7 |
-3.5 |
Source: Insolvency Service and Companies House
p = provisional, r = revised
1 Longer series back to 2000 are presented in the accompanying detailed tables.
2 Where the CVL is the first insolvency procedure entered into (see Notes to Editors).
Additionally, there were 1,465 other corporate insolvencies in the fourth quarter of 2009 (not seasonally adjusted) comprising 397 receiverships, 849 administrations and 219 company voluntary arrangements. In total these represented a decrease of 39.7% on the same period a year ago (this should be interpreted in light of the Q4 2008 figure for administrations, detailed in note 4 to Table II below).
Table II. Other Corporate Insolvencies in England and Wales (not seasonally adjusted)1
| |
% change – Q4 2009 on |
| |
08Q4 |
09Q1 |
09Q2 |
09Q3 |
09Q4p |
Q4 2008 |
| Receiverships2
|
261 |
316 |
345 |
410 |
397 |
52.1 |
| Administrations3
|
2,0184
|
1,311 |
1,027 |
974 |
849 |
-57.94
|
| Company voluntary arrangements |
149 |
156 |
157 |
194 |
219 |
47.0 |
Source: Insolvency Service and Companies House
p = provisional,
1 Longer series back to 2000 are presented in the accompanying detailed tables.
2 Includes Law of Property Act receivers (see “Notes to Editors” paragraph 9).
3 Includes Administrator Appointments.
4 The figure for 08Q4 includes 729 separate managed service companies for which BDO Stoy Hayward was appointed administrator. The administrations were approved in September 2008, but the statistics are counted based on the date registered at Companies House (which fell in October 2008, i.e. Q4).
Note: The figures in Table II are not seasonally adjusted and are not, therefore, on the same basis as the headline figures in Table I. The accompanying detailed tables also include the non-seasonally adjusted series for corporate liquidations.
Source: http://www.insolvency.gov.uk/otherinformation/statistics/201002/index.htm
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Key Facts