Business: Insolvency
(asked on 14th November 2023) - View Source
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how many businesses registered as insolvent in (a) 2019-2020 and (b) 2022-2023.
The numbers of registered company insolvencies in the United Kingdom in the periods requested were:
| England and Wales | Scotland | Northern Ireland |
1 April 2019 – 31 March 2020 | 16,726 | 989 | 364 |
1 April 2022 – 31 March 2023 | 22,873 | 1,146 | 198 |
Insolvent businesses also include trader (self-employed) bankruptcies. In England and Wales, there were 3,487 trader bankruptcies between 1 April 2019 and 31 March 2020, while there were 1,301 trader bankruptcies between 1 April 2022 and 31 March 2023.
Information on trader bankruptcies is sourced from Insolvency Service administrative systems. For Scotland and Northern Ireland, the administration of bankruptcies is devolved and therefore the relevant information is not held by the Insolvency Service.