Further Rise in Corporate Insolvency Stats for April 2022

20 May 2022
2 minutes

The Insolvency Service statistics released on 17 May show that the monthly number of registered company insolvencies in England & Wales was more than double the number registered in the same month in the previous year (925 in April 2021), and 39% higher than the number registered three years previously (pre-pandemic; 1,429 in April 2019).

The actual number of registered company insolvencies was 1,991 which was largely made up of 1,777 Creditors’ Voluntary Liquidations (CVLs) and 74% higher than in April 2019. Other types of company insolvencies, such as compulsory liquidations remained lower than before the pandemic although there were three times as many compulsory liquidations in April 2022 compared to April 2021, and the number of administrations was 51% higher than a year ago.

In Northern Ireland, in the same period there were 13 company insolvencies, 2.6 times as many as April 2021 but 32% lower than in April 2019. This is comprised of two administrations, four CVLs, one CVA and six compulsory liquidations. Unlike the rest of the UK, a moratorium remains in place in Northern Ireland preventing the issue of fresh creditor winding up petitions although the restriction on creditor bankruptcy petitions is due to be partially lifted from 5 September 2022.

With increased inflation and interest rates, it is likely that there will be many more insolvencies. If you are concerned about your business, its debts or future prospects now is the time to take the initiative and obtain expert advice – our Insolvency team is available to discuss your needs.

Contact David

David McAlinden
028 9099 3116

Contact Ruairi

Ruairi Maguire
028 9099 3145

Contact Niamh

Niamh Murphy
Trainee Solicitor
028 9024 2450

Contact Oonagh

Oonagh Kelly
Legal Executive
028 9024 2450

Share Article

This article is for general guidance only and should not be regarded as a substitute for professional legal advice.


Our experience and expertise allow our team to provide an unrivalled service to all clients.


Our personal understanding ensures our clients are at the forefront of our services.


Our team provides clear legal guidance to complement your business structure.


Our clients span all industries, from technology to agriculture and hospitality to renewables.

Or please call us on 028 9024 2450 or email info@mkblaw.co.uk

MKB Law is regulated by the Law Society of Northern Ireland. Content is copyright © MKB Law 2021. Terms & Conditions apply.