The latest insolvency figures were released today by the Department of Trade
and Industry, showing that insolvencies topped 100,000 in 2006 – an increase of
59% over the previous year’s 67,584.
The latest figures show:
- The total number of IVAs for 2006 (Q1 – Q4) is 44,331, an increase of 118%
over the previous full year (2005, Q1 – Q4), 20,293.
- The latest quarter shows an overall increase in individual insolvencies of
7.1% over the previous quarter and 44.1% on the same quarter last year.
- IVAs, in particular, rose by 3.9% and 81.9% respectively.
- Individual bankruptcies rose by 9.6% and 24.6% respectively.
- For Q4 2006, IVAs represented 43% of total individual insolvencies,
compared with 34% for the same quarter a year ago.
Number of Insolvencies in England and Wales (seasonally adjusted).
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children