Monday, 9 November 2009

Company Liquidations up 14.6%

There were 4,716 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the third quarter of 2009 (on a seasonally adjusted basis). This was a decrease of 4.7% on the previous quarter but an increase of 14.6% on the same period a year ago.




This was made up of 1,301 compulsory liquidations (which are down 9.8% on the previous quarter and down 12.9% on the corresponding quarter of the previous year), and 3,415 creditors voluntary liquidations (which are down 2.6% on the previous quarter but up 30.2% on the corresponding quarter of the previous year).

In the twelve months ending Q3 2009, approximately 1 in 114 active companies (or 0.9%) went into liquidation, which is up slightly on the previous quarter when the figure was approximately 1 in 120.

Additionally, there were 1,578 other corporate insolvencies in the third quarter of 2009 (not seasonally adjusted) comprising 410 receiverships, 974 administrations and 194 company voluntary arrangements. In total these represented an increase of 9.3% on the same period a year ago.

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