Northern Irish business insolvencies rise whilst personal insolvency numbers remain stable

Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased the latest quarterly figures.

In December 2021 there were 81 individual insolvencies in Northern Ireland, 48% lower than in December 2020, and 42% lower than December 2019.

This consisted of 63 IVAs, 11 DROs and seven bankruptcies.

There were 32 company insolvencies in Northern Ireland in Q4 2021, an increase of 33% on the same quarter of 2020.

This comprised 18 CVLs, three administrations, 10 compulsory liquidations and one CVA. There were no administrative receiverships.

In Q4 2021 there were 376 personal insolvencies in Northern Ireland, which is similar to Q4 2020.

This comprised 323 IVAs, 33 DROs and 20 bankruptcies.