Company Insolvencies – Liquidations, Receiverships, and Voluntary Administrations
Company insolvency appointments for July 2023 combined across all insolvency types have come in just under 2019 levels. Court liquidations remain a driver for these increased levels. This increase is following continued strong winding up applications driven by the IRD and its recovery efforts.
As a percentage share of appointments, the figures have remained consistent from last month.
Total corporate insolvency figures for the year to date continued to sit just behind 2019 figures. The slower start to the years insolvency appointments has yet to be recovered from.
While court liquidations have dropped slightly as an overall percentage they still remain above their long team average so remain a large portion of the below pie, we continue to see a drop in solvent appointments however.
Winding Up Applications
The increases seen over the last 3 months have finally pulled back slightly. While it is a drop on the last two months it may be the result of increased figures evening out compared to the usual spike we see in July. So a longer sustained lift rather than a July spike and drop off.
From the below graph we continue to see that IRD’s winding up applications close in on 3x the remainder of all creditors and has continued to grow as an overall percentage month on month since March.
Personal Insolvencies – Bankruptcy, No Asset Procedure and Debt Repayment Orders.
Personal insolvency appointments remain low and continue looking very similar to 2022 figures. As a breakdown of appointment types bankruptcies remain above their long term average with both No Asset Procedures and Debt Repayment Orders below their averages by 10 pts each.
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