The Insolvency Service have recently published the insolvency figures for the third quarter of 2013.

Corporate Insolvencies

The figures show that there has been a slight decrease in the number of corporate insolvencies on the previous quarter in England and Wales.

The number of comapny liquidations for the third quarter of 2013 is 3,875, of which 964 were compulsory liquidations and 2,911 were creditors’ voluntary liquidations.

There was an increase in the number of receiverships from 192 to 253, and a decrease in the amount of administrations from 622 to 544.  Company Voluntary Arrangement numbers have also decreased from 160 to 152 in the third quarter of 2013.

Personal Insolvencies

There has been an increase in the number of personal insolvencies, the number for the third quarter of 2013 was 26,030, 6,004 of which wre bankruptcies and 13,394 were individual voluntary arrangements.  The number of debt relief orders made has decreased, there were 6,632 in the third quarter of 2013.

it is important for anybody facing financial difficulties, whether personally, directors of limited companies or partnerships, to seek advice from a licensed insolvency practitioner as soon as possible.

To take advantage of our free consultation, please telephone Stella Flemmings on 01377 257788, 01724 230060 or 01904 520116 and she will make you an appointment with one of our insolvency professionals in our Driffield, Scunthorpe or York offices.

Redman Nichols Butler has had a Scunthorpe office for nearly 3 years now.  Mark Neumegen, who heads up the Scunthorpe office regularly advises businesses in Scunthorpe, Grimsby and all over North East Lincolnshire areas on all manner of insolvency and turnaround issues.  The Scunthorpe office address is Suite 8b, Normanby Gateway, Lysaghts Way, Scunthorpe, DN15 9YG.