CCJs against businesses rise by 30%
According to figures released by Registry Trust, there was an almost 30% increase in the number of adverse county court judgments (“CCJs”) against incorporated businesses in England and Wales in 2018.
While CCJs against incorporated businesses was up by 27%, CCJs against typically smaller unincorporated businesses showed a different story and have actually dropped to the lowest annual figure on record at 31, 849.
The total value of business CCJs rose by 49% to £468.6million pounds with the average value being £3,737 (up 25% on the previous year)
Following 2017s record low number of High Court Judgements, 2018 saw a 70% increase bringing the number back in line with 2015/16 figures. However, the total value of High Court judgments fell to the lowest annual figure on record at £71.6million, the average value of which also fell by 60% to £795,666.
Isobel Brett, Director, Bretts Business Recovery, commented “The latest CCJ statistics are a good reflection of the changing economic landscape. Trading conditions are increasingly difficult for the larger firms that are slower to adapt.“