Monthly insolvency statistics March 2021
The number of registered company insolvencies in March 2021 was 992:
- 20% lower than the number registered in the same month in the previous year (1,236 in March 2020), and
- 37% lower than the number registered two years previously (1,586 in March 2019).
For individual insolvencies, the number of bankruptcies in March 2021 was 1,028, while the number of Debt Relief Orders (DROs) was 1,591. Both were 31% lower than in March 2020 and 34% lower than in March 2019.
There were, on average, 6,388 IVAs registered per month in the three-month period ending March 2021:
- 24% higher than for the three-month period ending March 2020, and
- 2% higher than the three-months ending March 2019. Note that this series is volatile (see the Data Sources and Methodology section for more information).
Overall numbers of company and individual insolvencies have remained low since the start of the first UK lockdown in March 2020, when compared with pre-pandemic levels. This is likely to be partly driven by government measures put in place in response to the coronavirus (Covid 19) pandemic, including:
- Temporary restrictions on the use of statutory demands and certain winding-up petitions (leading to company compulsory liquidations).
- Enhanced government financial support for companies and individuals.
As the Insolvency Service does not record whether an insolvency is directly related to the coronavirus pandemic, it is not possible to state the direct effect of the pandemic on insolvency volumes.
