Latest statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased by 29% whilst personal insolvencies doubled when compared to 2020 in the latest monthly figures.
In November 2021 there were 193 personal insolvencies in Northern Ireland, 11% more than double the number in November 2020, but 32% lower than November 2019. This consisted of 165 IVAs, 18 DROs, and 10 bankruptcies.
Whilst there were 9 business insolvencies registered in Northern Ireland in November. This was 29% higher than in November 2020 but 71% lower than November 2019.
This comprised of one administration, two compulsory liquidation, and six CVLs. There were no CVAs or receivership appointments.