Money News
Latest figures from the Insolvency Service show there were 29,804 individual insolvencies in England and Wales in Q4 2006 on a seasonally adjusted basis. This was an increase of 7.1% on the previous quarter and an increase of 44.1% on the same period a year ago. It also took the number for the year to 107,288 - the highest annual number since comparable records began in 1960.
Quarterly figures show 17,063 bankruptcies, an increase of 9.6% on the previous quarter and an increase of 24.8% on the corresponding quarter of the previous year, and 12,741 Individual Voluntary Arrangements (IVAs), an increase of 3.9% on the previous quarter and a rise of 81.9% on the corresponding quarter of the previous year.
Meanwhile, on the companies front there were 3,194 liquidations in England and Wales in Q4 2006 on a seasonally adjusted basis. This was a decrease of 1.4% on the previous quarter and a decrease of 0.1% on the same period a year ago.
Of this there were 1,411 compulsory liquidations - an increase of 4.9% on the previous quarter and an increase of 9.7% on the corresponding quarter of the previous year - and 1,783 creditors voluntary liquidations, a decrease of 5.9% on the previous quarter and a decrease of 6.7% on the corresponding quarter of the previous year.
0.6% of active companies went into liquidation in the twelve months ended Q4 2006, a decrease from 0.7% in the previous quarter and the corresponding quarter of 2005.
02 February 2007 © Moneyextra.com
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