Insolvencies Are on the Rise Year on Year

The Insolvency Service has published their insolvency figures for October 2023, and they don’t look good. The level of insolvencies has gone up by 18% overall, year on year. In October, there were:

1,889 Creditors Voluntary Liquidations (CVLs)
256 compulsory liquidations
146 administrations
23 Company Voluntary Arrangements (CVAs)
1 receivership appointment

Scotland saw 99 company insolvencies comprising 52 CVLs, 35 compulsory liquidations, 2 CVAs and 4 administrations, 21% from October 2022.

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