Bankruptcies and company insolvencies fell over the last quarter

Fewer firms went bust over the last quarter. Personal insolvencies fell in the last three months. The number of bankruptcies and insolvencies dropped in the last few months, according to figures revealed by the Insolvency Service. However, analysts are warning that the improvements are not expected to last. In the three months leading up to September there were 33,935 personal insolvencies, which is 3.7% fewer than the same period last year. Included in this figure were bankruptcies, which totalled 13,907, Individual Voluntary Arrangements that reached 12,960 and just over 7,000 Debt Relief Orders. However, these figures are still much higher than the number of insolvencies that occurred before the recession hit.