May 2023 - Corporate Insolvency Appointments

There were 1070 corporate insolvency appointment in May 2023, pretty much bang on the long term average of 1069.

With May’s numbers now in, and June numbers tracking to also come in around the long term average, it’s clear that through the second half of 2023, appointments have recovered to where we would expect them to be. However, there certainly hasn’t been any huge wave of insolvencies yet, just a return to normal levels.

With economic conditions tipped to deteriorate next year, it’s highly likely that we will see appointments rise to historically ‘high’ levels next year (and we’ll see a whole new round of hysterical media articles).

Of the major appointment types, Voluntary Adminstrations, Voluntary Liquidations, and Receiverships have all returned to normal levels, while Court Liquidations reman at less than half their long term average. The new Restrucutruing appointment typy is making up the shortfall and to me this is a positive story, replacing the most terminal of appointments, with one designed to rehabilitate small businesses. Hopefully that trend can continue into next year.