Thursday, 12 August 2010

Company Liquidations Rise by 0.5% From Previous Quarter

There were 4,080 compulsory liquidations and creditors’ voluntary liquidations in total in England and Wales in the second quarter of 2010 (on a seasonally adjusted basis). This was an increase of 0.5% on the previous quarter and a decrease of 19.1% on the same period a year ago.
This was made up of 1,169 compulsory liquidations (which are down 9.9% on the previous quarter and down 21.0% on the corresponding quarter of the previous year), and 2,911 creditors voluntary liquidations (which are up 5.4% on the previous quarter and down 18.3% on the corresponding quarter of the previous year).
In the twelve months ending Q2 2010, approximately 1 in 127 active companies (or 0.8%) went into liquidation, which is a slight decrease from the previous quarter, when this figure stood at 1 in 120.
Additionally, there were 1,311 other corporate insolvencies in the second quarter of 2010 (not seasonally adjusted) comprising 302 receiverships, 777 administrations and 232 company voluntary arrangements. In total these represented a decrease of 14.3% on the same period a year ago.

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