The Insolvency Service has published its insolvency statistics for Q1 2015 which show that personal insolvencies were at the lowest level since Q4 2005. In the 12 months ending Q1 2015, 1 in 478 adults (just over 0.2% of the adult population) became insolvent. This was the lowest rate since the 12 months ending Q1 2006.
The statistics also showed that company insolvencies were at their lowest level since Q4 2007. The number of administrations and compulsory liquidations had increased by 9.2% and 9.3% respectively on the last quarter, but were both lower than Q1 2014. The liquidation rate in the 12 months ending Q1 2015 was 0.5% of active companies, the lowest level since Q4 1984.
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