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Monthly UK company insolvency statistics December 2023

  • 16/01/2024
  • Paul Atkinson
a woman sitting at a dining table looking over financial figures


The number of company insolvencies in December 2023 was 2% higher than in December 2022.

The Insolvency Service has confirmed that the number of registered company insolvencies in December 2023 was 2,002, which is 2% higher than the same month in the previous year (1,965 in December 2022). This number is higher than the levels seen when the Government support measures were in place in response to the COVID-19 pandemic and is also higher than the pre-pandemic numbers.

Of the 2,002 registered company insolvencies in December 2023:

  • There were 1,731 CVLs, which is 5% higher than in December 2022;
  • 153 were compulsory liquidations, which is 18% lower than December 2022;
  • There were 103 administrations, which is 8% lower than December 2022;
  • 15 were CVAs, which is 50% higher than in December 2022;
  • There were no receivership appointments.

Figure 1: The number of registered company insolvencies in December 2023 was slightly higher than in the same month last year, driven by a higher number of CVLs.

line graph showing number of registered company insolvencies in December 2023

Sources: Insolvency Service (compulsory liquidations only); Companies House (all other insolvency types)

Individual Insolvencies

In December 2023, the total number of insolvencies for individuals was 6,584, which is 20% lower compared to December 2022 (8,254).

The individual insolvencies consisted of:

  • 496 bankruptcies
  • 2,472 debt relief orders (DROs) 
  • 3,616 individual voluntary arrangements (IVAs).

Figure 2: IVA numbers in 2023 were lower than in 2022. Bankruptcy and DRO numbers were higher in December 2023 than in the same period last year.

line graph sowing number of Individual voluntary arrangements in December 2023

Source: Insolvency Service

How CoCredo Company Credit Reports can help

Dan Hancocks, CoCredo MD, says: “The data released today indicates that December recorded the highest figures in the past four years and reflects how challenging December was for businesses in England and Wales. In December, many companies had to deal with additional expenses, which further put a strain on their already tight margins. This was compounded by sluggish consumer spending and the escalating energy costs.”

“If the trading period in the New Year does not improve compared to the period before Christmas, we might see a continuous rise in insolvency numbers. This could be attributed to businesses that expected a boost in their income during the festive season but fell short of their targets.”

Our UK and International Monitoring service provides you with regular email notifications for 12 months regarding any changes in a business, such as financial performance, payment history, County Court judgments, etc. This allows you to keep track of any changes and gain valuable insights into a company's financial performance. With this information, you can be proactive and take the necessary steps to protect your business.

Would you like to try out a free trial of our company credit report? You can contact us at 01494 790600 or email us to learn more about our business credit check services, which can help you reduce your credit risk and increase your cash flow and productivity.



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