Latest monthly statistics from the Insolvency Service have shown that business insolvencies increased quadrupled, whilst personal insolvencies fell by over 25%r in Northern Ireland in May 2024.
The data showed that there were 44 company insolvencies registered in Northern Ireland, the figures were four times higher than in May 2023. The business insolvencies comprised of 22 compulsory liquidations, 20 CVLs and 2 CVAs. There were no administrations and no receivership appointments.
The personal insolvency figures showed that there were 143 personal insolvencies. This was 26% lower than in May 2023. The personal insolvencies consisted of 114 IVAs, 17 bankruptcies and 12 DROs
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