7 February 2018: The corporate insolvency statistics for 2017 have been published and the key finds are detailed below:
Company insolvencies increased overall, with an estimated total of 17,243 companies entering insolvency in 2017, a rise of 4.2% on the year before.
This was driven by an increase in creditors’ voluntary liquidations (CVLs) of 8.2%, which was inflated by two “bulk insolvency” events with large numbers of connected companies entering insolvency following changes to claimable expense rules. These bulk insolvencies accounted for an estimated 2,131 of the total.
Whilst all these statistics are of interest to Insolvency Practitioners, if you have a client that wishes to avoid being included in the 2018 stats then please call any one of our experienced management team at BRI Business Recovery and Insolvency to discuss options available.