COMPANY
LIQUIDATIONS
There
were 3,210 liquidations in England and Wales in the first
quarter of 2008 on a seasonally adjusted basis. This was an
increase of 2.0% on the previous quarter and an increase of 4.0%
on the same period a year ago.
This
was made up of 1,085 compulsory liquidations, a decrease of 6.6%
on the previous quarter and a decrease of 22.0% on the
corresponding quarter of the previous year, and 2,125 creditors
voluntary liquidations, an increase of 7.1% on the previous
quarter and an increase of 25.4% on the corresponding quarter of
the previous year.

In
the twelve months ending Q1 2008, 0.6% of active companies went
into liquidation, the same as the previous quarter and the
corresponding quarter of 2006.
INDIVIDUAL
INSOLVENCIES
There
were 25,264 individual insolvencies in England and Wales in the
first quarter of 2008 on a seasonally adjusted basis. This was
an increase of 1.7% on the previous quarter and a decrease of
13.2% on the same period a year ago.
This
was made up of 15,651 bankruptcies, an increase of 0.1% on the
previous quarter and a decrease of 6.8% on the corresponding
quarter of the previous year, and 9,614 Individual Voluntary
Arrangements (IVAs), an increase of 4.3% on the previous quarter
and a decrease of 22.0% on the corresponding quarter of the
previous year.

For bankruptcy orders
there has been a pronounced shift towards debtor’s petition
bankruptcies and away from creditor’s petitions in recent
years. By the first
quarter of 2008, 84% were made on the petition of the debtor.
The
percentage of bankruptcy orders involving trading debts
(self-employed bankruptcies) has fallen from 61% in 1995 to 11%
in 2007 (first quarter 2008 figures for trading-related
bankruptcies are not yet available). It should be noted,
however, that figures for 2007 are based on a revised
classification and are not entirely consistent with earlier
years figures.
|
Number
of Insolvencies in England and Wales (seasonally adjusted)
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage
change
|
|
|
|
2007
|
2007
|
2007
|
2007
|
2008
|
Q1
2008 on:
|
|
|
|
Q1r
|
Q2r
|
Q3r
|
Q4r
|
Q1p
|
Q4
2007
|
Q1
2007
|
|
|
|
|
|
|
|
|
|
|
|
Company
Liquidations
|
3,087
|
3,051
|
3,142
|
3,146
|
3,210
|
2.0
|
4.0
|
|
of which:
|
Compulsory
|
1,392
|
1,334
|
1,277
|
1,162
|
1,085
|
-6.6
|
-22.0
|
|
|
Creditors
Voluntary
|
1,695
|
1,717
|
1,865
|
1,984
|
2,125
|
7.1
|
25.4
|
|
Individuals
|
|
29,116
|
26,774
|
25,900
|
24,854
|
25,264
|
1.7
|
-13.2
|
|
of
which:
|
Bankruptcies
|
16,788
|
16,214
|
15,842
|
15,636
|
15,651
|
0.1
|
-6.8
|
|
|
IVAs
|
12,328
|
10,561
|
10,058
|
9,218
|
9,614
|
4.3
|
-22.0
|
|
|
|
|
|
|
|
|
|
|
|
p
= provisional, r
= revised
1
Longer series back to 1998 are presented in the
accompanying detailed tables |
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INSOLVENCIES
IN SCOTLAND AND NORTHERN IRELAND
The
following tables present recent trends in insolvencies in
Scotland and Northern Ireland, complementing those for England
and Wales above (longer series back to 1998 are presented in the
accompanying detailed tables).
|
Number
of Insolvencies in Scotland (not seasonally adjusted)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage
change
|
|
|
|
2007
|
2007
|
2007
|
2007
|
2008
|
Q1
2008 on:
|
|
|
|
Q1
|
Q2
|
Q3
|
Q4
|
Q1p
|
Q4
2007
|
Q1
2007
|
|
|
|
|
|
|
|
|
|
|
|
Company
Liquidations
|
166
|
165
|
125
|
83
|
102
|
22.9
|
-38.6
|
|
of which:
|
Compulsory
|
132
|
131
|
105
|
71
|
95
|
33.8
|
-28.0
|
|
|
Creditors
Voluntary
|
34
|
34
|
20
|
12
|
7
|
-41.7
|
-79.4
|
|
Individuals
|
|
3,471
|
3,498
|
3,527
|
3,318
|
3,275
|
-1.3
|
-5.6
|
|
of
which:
|
Sequestrations
|
1,505
|
1,606
|
1,545
|
1,563
|
1,395
|
-10.7
|
-7.3
|
|
|
Protected Trust Deeds
|
1,966
|
1,892
|
1,982
|
1,755
|
1,880
|
7.1
|
-4.4
|
|
|
|
|
|
|
|
|
|
|
| p
= provisional |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number
of Insolvencies in Northern Ireland (not seasonally
adjusted)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage
change
|
|
|
|
2007
|
2007
|
2007
|
2007
|
2008
|
Q1
2008 on:
|
|
|
|
Q1
|
Q2
|
Q3
|
Q4
|
Q1p
|
Q4
2007
|
Q1
2007
|
|
| |