UK DATA: INSOLVENCIES IN THE FIRST QUARTER 2009
Statistics showing insolvencies in the first quarter of 2009 are published today (1 May) by the Insolvency Service.
There were 4,941 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the first quarter of 2009 (on a seasonally adjusted basis).
This was an increase of 7.1% on the previous quarter and an increase of 56.0% on the same period a year ago.
This was made up of 1,579 compulsory liquidations (which are up 1.2% on the previous quarter and 43.6% on the corresponding quarter of the previous year), and 3,362 creditors voluntary liquidations (which are up 10.0% on the previous quarter and 62.5% on the corresponding quarter of the previous year).
In the twelve months ending Q1 2009, approximately 1 in 130 active companies (or 0.8%) went into liquidation, compared to the previous quarter when approximately 1 in every 150 (or 0.7%) of active companies went into liquidation.