Monthly company insolvencies increase 21% year-on-year

New data published today by the Insolvency Service shows the number of registered company insolvencies in November 2022 was 2,029. This was 21% higher than in the same month in the previous year (1,676 in November 2021), and 35% higher than the number registered three years previously (pre-pandemic; 1,505 in November 2019). The data published today also shows that there were 290 compulsory liquidations in November 2022, which is more than 5 times as many as there were in November 2021.

Claire Burden, Head of Advisory Consulting at Evelyn Partners and a Board member of the Institute for Turnaround comments

14 Dec 2022
  • The Evelyn Partners team
The Evelyn Partners team
The Evelyn Partners team
Authors
  • The Evelyn Partners team The Evelyn Partners team
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Monthly company insolvencies increase 21% year-on-year

New data published today by the Insolvency Services shows the number of registered company insolvencies in November 2022 was 2,029. This was 21% higher than in the same month in the previous year (1,676 in November 2021), and 35% higher than the number registered three years previously (pre-pandemic; 1,505 in November 2019). The data published today also shows that there were 290 compulsory liquidations in November 2022, which is more than 5 times as many as there were in November 2021. Claire Burden, Head of Advisory Consulting at Evelyn Partners and a Board member of the Institute for Turnaround comments:

“The year-on-year rise in the number of monthly company insolvencies can be attributed to businesses struggling to deal with post Covid debts, rising interest rates and inflationary increases failing to be passed onto already cost-wary consumers.

“We are seeing an increasing number of worried directors who are struggling to keep their businesses afloat. These are good companies but facing serious and continuing increases in energy costs, wage demands and interest rates. The vast majority of directors have never before faced these levels of inflation and are having to change their ways of working to assert more control.

“The insolvency stats remain concerning for one main reason: the sheer level of liquidations compared to ‘rescue’ insolvency procedures like administrations, where jobs are saved. This highlights that directors are leaving it far too late to take the steps needed to save jobs. This delay is not only having a wider economic impact through job losses, but also may cause a raft of claims against directors personally for failing to protect the interests of the company and its creditors.

“Insolvency is always the last option. Directors should be proactive, taking all action possible. We have distilled this into the 12 key activities that directors should prioritise in the lead up to 2023, to be recession ready.

About Evelyn Partners

Evelyn Partners was created in 2020 through the merger of Tilney and Smith & Williamson. With £68.6 billion of assets under management (as at 31 December 2025), we are one of the largest UK wealth managers ranked by client assets.

Through an extensive network of offices across 21 towns and cities in the UK, as well as the Republic of Ireland and the Channel Islands, we support private clients, family trusts and charities, as well as provide investment solutions to financial intermediaries. Our diverse client base includes entrepreneurs, C-suite executives and partners of professional firms.

Our expertise span both award-winning financial planning and investment management, enabling us to offer clients a truly holistic dual expert wealth management service. Through Bestinvest, we also provide an online investment platform and coaching service for self-directed investors, consistent with our purpose to ‘place the power of good advice into more hands’.

On February 9, 2026, it was announced that NatWest Group Plc will acquire Evelyn Partners. The transaction, which is subject to regulatory approval, is expected to complete in the summer of 2026.

Disclaimer

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.

Issued by the Evelyn Partners group of companies (the “Group”) which comprises Evelyn Partners Limited and any subsidiary of Evelyn Partners Limited from time to time. Further details about the Group are available at: https://www.evelyn.com/legal-compliance-regulatory/registered-details