DTI publishes Q3 insolvencies statistics

The Department of Trade and Industry has published statistics showing insolvencies in Q3 2005.

There were 3,389 liquidations in England and Wales in Q3 of 2005 on a seasonally adjusted basis, an increase of 0.3% on the previous quarter and an increase of 14.2% on the same period a year ago.

This was made up of 1,531 compulsory liquidations, an increase of 15.3% on the previous quarter and an increase of 35.7% on the corresponding quarter of last year, and 1,859 creditors voluntary liquidations, a decrease of 9.4% on the previous quarter and an increase of 1.0% on the corresponding quarter of last year.

Also, 0.7% of active companies went into liquidation in the 12 months ended Q3 2005, the same as the previous quarter and the same as the corresponding quarter of 2004.

There were 17,562 individual insolvencies in England and Wales in Q3 of 2005 on a seasonally adjusted basis. This was an increase of 11.6% on the previous quarter and an increase of 46.0% on the same period a year ago.

This was made up of 12,043 bankruptcies, an increase of 6% on the previous quarter and 30.9% on the corresponding quarter of last year, and 5,519 individual voluntary arrangements, an increase of 26.1% on the previous quarter and an increase of 95.0% on the corresponding quarter of the previous year.