Restructuring & Insolvency Manager Claire Mateer takes a look at the insolvency statistics for June
June’s insolvency statistics reveal a return to pre-pandemic levels of monthly bankruptcies. Northern Ireland saw 14 company insolvencies last month, which remains 44% lower than in June 2022. In individual cases, however, 36 bankruptcies were recorded as part of an overall total of 160 individual insolvencies, a figure that is up 19% on June of last year.
These 36 bankruptcies are worth watching as it is the highest level recorded since before the pandemic, when we saw a peak of 47 bankruptcies in February 2020. It may simply be a symptom of the courts returning to normal as more bankruptcy petitions filter through following a temporary stay on creditors’ bankruptcy petitions. With the courts now in summer recess, only September’s figures can tell us if the figures will settle or if new economic pressures are beginning to cause an increase in bankruptcies.
To discuss any aspect in more detail contact Claire Mateer, Manager, Restructuring & Insolvency E: clairemateer@bakertillymm.co.uk Tel: 028 9032 3466