COMPANY INSOLVENCIES

There were 4,080 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the second quarter of 2010 (on a seasonally adjusted basis).  This was an increase of 0.5% on the previous quarter and a decrease of 19.1% on the same period a year ago.

This was made up of 1,169 compulsory liquidations (which are down 9.9% on the previous quarter and down 21.0% on the corresponding quarter of the previous year), and 2,911 creditors voluntary liquidations (which are up 5.4% on the previous quarter and down 18.3% on the corresponding quarter of the previous year).
In the twelve months ending Q2 2010, approximately 1 in 127 active companies (or 0.8%) went into liquidation, which is a slight decrease from the previous quarter, when this figure stood at 1 in 120.

Table I. Company Liquidations in England and Wales (seasonally adjusted) ¹

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 creditors’ voluntary liquidation is the first insolvency procedure entered into (see Notes to Editors).

Additionally, there were 1,311 other corporate insolvencies in the second quarter of 2010 (not seasonally adjusted) comprising 302 receiverships, 777 administrations and 232 company voluntary arrangements.  In total these represented a decrease of 14.3% on the same period a year ago.

Table II. Other Corporate Insolvencies in England and Wales (not seasonally adjusted) 1

Source: 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.

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.