To ask the Secretary of State for Business, Innovation and Skills, how many company voluntary arrangements (CVAs) have been made in the last two years; how many such arrangements have been renegotiated due to a change in circumstances; and for what reasons those CVAs have been unsuccessful.
The number of company voluntary arrangements for the calendar years 2014 and 2015 is shown in the table below.
Company Voluntary Arrangements
England & Wales
Insolvency Statistics: October to December 2015
(e) = estimated
The Insolvency Service analysed individual records filed at Companies House, in respect of a sample of 53 CVA proceedings which commenced in 2012/13. This analysis showed that, by summer 2015, around 60 per cent had been unsuccessful under the original terms of the arrangement (including those that were renegotiated). No information was collected on the reasons behind the CVA being unsuccessful.