Company insolvencies in E&W decreased and are now at the lowest level since Q4 2007.
It was compulsory liquidations whose numbers fell most markedly – 15.4% down on the previous quarter and 21.9% down on the same quarter of the previous year. The liquidation rate in the 12 months ending Q2 2015 was 0.45% of active companies, the lowest level since comparable records began in Q4 1984.
Personal insolvencies decrease for the fourth successive quarter to the lowest level since Q3 2005.
Again these were down both against the previous quarter (9.1%) and the same quarter of the previous year (29.3%).
The introduction of debt relief orders (DROs) has reduced the number of bankruptcies. IVAs have fallen 12.1% on the previous quarter and a massive 35.9% on the same period in 2014.
Source: Insolvency Service Statistics released 29 July 2015