Monthly insolvency statistics – December 2025

Corporate Insolvencies

England and Wales

There were 23,932 company insolvencies, excluding moratorium and restructuring plans in 2025. This was slightly higher than the previous year’s total of 23,881. 2023 saw the peak number of company insolvencies at over 25,000. The total number of company insolvencies in each year since 2021 have been significantly higher than those experienced prior to the covid pandemic.

Company insolvencies in December 2025 totalled 1,671, 13% lower than December 2024. This was the lowest number for any month in 2025, but the impact of the Christmas break should be considered regarding overall trends.

Creditors Voluntary Liquidations (“CVLs”) totalled 1,305, 11% lower than December 2024.

Compulsory Liquidations (“WUCs”) totalled 245, the lowest number of orders for this year, and were 21% lower than December 2024.

There were 106 Administration appointments which was 20% lower than December 2024.

There were 15 Company Voluntary Arrangements (“CVA”s) in December 2025, 12% lower than December 2024.

Scotland

In December 2025, there were 111 company insolvencies registered in Scotland, 35% higher than the number in December 2024. The total number of company insolvencies was comprised of 69 CVLs, 35 compulsory liquidations and seven administrations. There were no CVAs or receivership appointments.

Northern Ireland

In December 2025 there were 20 company insolvencies registered in Northern Ireland, 13% lower than in December 2024. The total number of company insolvencies was comprised of 11 compulsory liquidations, five CVLs and four CVAs. There were no administrations or receivership appointments.

Personal Insolvencies

England and Wales

In 2025, a total of 126,242 individual insolvencies were recorded, representing a 7% increase from the 117,954 cases in 2024 and marking the highest annual figure since 2010.

Debt Relief Orders hit a record high in 2025, totalling 46,940 — up 9% on 2024 and nearly twice the long-term annual average.

However, bankruptcies remained historically low in 2025, with 7,461 cases recorded — below 2024 levels and less than half of those seen before 2020. This continues a long-term downward trend that began in 2009 and accelerated during the pandemic, with figures well below the 2015–2024 average.

Overall, 74% of bankruptcies in 2025 came from debtors’ applications, slightly below the pre-COVID average of 77%.

In December 2025, there were 8,702 Individual Voluntary Arrangements (IVAs) registered. This figure reflects the registration of many IVAs that were agreed in November but processed in December, following a temporary backlog caused by the Insolvency Service’s transition to a new case management system. As a result, the combined total for November and December 2025 was 17% higher than over the same two-month period in 2024.

Overall, the 2025 figures highlight continued financial vulnerability and the importance of accessible debt relief and early intervention support within the policy framework.

In December 2025, 3,884 Breathing Spaces were registered, down 31% compared with December 2024. Most were Standard registrations, with a smaller proportion relating to mental health. Since the scheme began in May 2021, StepChange Debt Charity has registered 59% of all Breathing Spaces.

Breathing Space registrations remained high in 2025, with 89,130 cases recorded—broadly in line with 2024 and the highest annual total since the scheme launched in 2021. The vast majority were Standard Breathing Spaces, alongside a smaller number of Mental Health Breathing Spaces.

Scotland

The Accountant in Bankruptcy produces individual insolvency statistics on a quarterly basis. Therefore, the numbers in this section are only updated once every 3 months.

The quarters referred to are calendar year quarters, such that Q1 2025 covers the period 1 January to 31 March 2025. In Q3 2025, there were 1,780 individual insolvencies in Scotland, which was 6% lower than in the same quarter of 2024.

The individual insolvencies were comprised of 1,056 protected trust deeds and 724 bankruptcies (also known as sequestrations), of which 401 went into bankruptcy via the minimal asset process route. The rules regarding bankruptcy differ to those in England and Wales, so numbers of bankruptcies are not directly comparable.

Northern Ireland

In December 2025, there were 149 individual insolvencies in Northern Ireland. This was 48% higher than in December 2024. There were 112 IVAs, 21 DROs and 16 bankruptcies.