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Friday, 5 February 2010

Insolvency Stats show mixed market Performance

The Q4 insolvency stats are released today.

They show a 58% FALL in the number of Administrations year on year (v 2008) to 849 appointments.

Conversely, Company Voluntary Arrangements are well UP on 2008 - 47% up to 219 appointments.

This is a very interesting set of numbers, CVA's are obviously being used more than in the past but still only amount to a quarter of the number of administrations. So 2009 saw 726 CVA's approved, historically thats a high number. We would expect to see up to 1,000 CVA's in 2010.

The stats dont break this out, but we wonder if pre-pack administrations are being ignored and CVA's being considered a better option in some cases?

Interesting too to note that creditors voluntary liquidations were only up 5.7% year on year. In Q4 there were 3,228 CVL's versus 3,055.

Not a busy insolvency or recovery market, is the best summary we can think of.

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