Member Article

R3 responds to May 2023 insolvency stats

Corporate insolvencies increased by 51.2% in May 2023 to a total of 2,552 compared to Aprils total of 1,688, and increased by 39.8% compared to May 2022s figure of 1,825.

o Corporate insolvencies increased by 151.9% from May 2021s total of 1,013 and by 170.3% from May 2020s total of 944. o Corporate insolvencies also increased by 89.3% compared to pre-pandemic levels in May 2019 (1,348).

Personal insolvencies increased by 10.7% in May 2023 to a total of 9,962 compared to Aprils total of 9,002, and decreased by 5.1% compared to May 2022s figure of 10,499.

o Personal insolvencies increased by 17.3% from May 2021s total of 8,496 and decreased by 28.1% from May 2020s total of 13,855. …

Read the full article at: https://bdaily.co.uk/articles/2023/06/20/r3-responds-to-may-2023-insolvency-stats