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March 2001 bankruptcy statistics.



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4 April 2001

MARCH 2001 BANKRUPTCY STATISTICS

The number of new bankruptcies for the first three quarters of this financial year has fallen compared with the same period last financial year.

Provisional bankruptcy statistics released today by the Inspector General in Bankruptcy, show that for the first three quarters of the 2000/01 financial year, the number of new bankruptcies fell from 17,885 to 16,745 - a decrease of 6.37%.

However, the number of new bankruptcies increased during the March 2001 quarter. There were 6,498 new bankruptcies in the March 2001 quarter, up from 5718 in the March 2000 quarter and 5195 in the December 2000 quarter.

The majority of new bankruptcies continue to be in the non-business (consumer credit) area. Business bankruptcies represented 16.8% of bankruptcies in the March 2001 quarter. From 1994/95 to 1999/2000, the number of business bankruptcies dropped by 2.5% from 3,998 to 3,899 per year, while the number of consumer bankruptcies increased by 91.5% from 10,132 to 19,399.

These most recent figures appear to be heralding a return to the long term upward trend for new bankruptcies.

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