Latest insolvency figures released from DTI

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).

Related reading