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Friday 3rd August 2012 | 10:49
Treasury press release
- Total Insolvencies in England and Wales fell in the second quarter, with both company liquidations and individual insolvencies falling. This is the fourth consecutive quarter of decline and the sharpest decline since the fourth quarter of 2010.
- Company liquidations fell for a second consecutive quarter, this decline driven by compulsory liquidations. This was marginally offset by a small increase in creditors’ voluntary liquidations. Liquidations as a percentage of total registered companies stood at 0.7 per cent, similar to the level last quarter.
- Individual insolvencies fell for a fourth consecutive quarter and are now at their lowest level since the second quarter of 2008. This fall was driven by a decline in bankruptcy orders and individual voluntary arrangements. The total number of insolvencies in the latest 12-month period equated to less than 0.3 per cent of the adult population of England and Wales.
- Individual insolvencies growth in Scotland showed a fourth consecutive increase compared to a year earlier, with the total now the highest since the fourth quarter of 2009.