Corporate Insolvency Up Year on Year, Down Month on Month

The Insolvency Service released figures for September 2023 and it's mixed news, with figures down on last month but up year on year. In September, there were:

1,576 Creditors Voluntary Liquidations (CVLs) - up 14% on September 2022, but down on August 2023
255 compulsory liquidations - up 19% on September 2022
125 administrations - up 47% on September 2022 but down on August 2023
11 Company Voluntary Arrangements (CVAs) - no change on September 2022 or August 2023

Scotland saw 87 company insolvencies comprising 52 CVLs, 30 compulsory liquidations and 5 administrations, lower than September 2022.

Overall, figures are 17% upon September 2022 but, encouragingly, they are down on August 2023.

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