Insolvency rates skyrocket in Southport and Bootle

Southport’s links with Bootle has once again seen the town tarred with a bad brush

Southport now has one of the highest personal insolvency rates in the North West, according to the trade association for the UK’s insolvency professionals.

In part this is thanks to skyrocketing levels of insolvency in nearby Bootle and figures are pooled together in one, bringing the average down and people getting administration advice from Irwin Insolvency.

The latest figures from R3, which represent insolvency practitioners, lawyers, turnaround and restructuring experts, show that in 2018, a total of 767 people in the borough went bankrupt, entered an Individual Voluntary Arrangement (IVA) or Debt Relief Order.

Sefton’s insolvency rate of 34.6 per 10,000 people was the one of the highest in the region.