October’s insolvency statistics show corporate insolvencies were 63% higher than in the same period last year which reported 864 and is only 85 below October 2019’s figure of 1,480.

The Insolvency Service reports that there were 1,248 creditors’ voluntary liquidations (CVLs), which is almost double last year’s figure of 672 and 19% higher than 2019. The figure is a small decrease from September’s 1,328 which was at the highest level since January 2019.

The number of compulsory liquidations sat at 46 which is 31% lower than last year’s figure of 59.

Company voluntary arrangements (CVAs) also remained low at 16, which is 24% lower than October 2020 and 56% lower than 2019, and there were 95 administrations, which is up from 81 reported in September but 40% lower than October 2019. There were no receivership appointments.