Bankrupts

Read more about the gender of debtors entering a bankruptcy.
Table: Gender of bankrupts
Calendar year Number of male bankrupts Number of female bankrupts Number of bankrupts where gender not stated Total number of bankrupts
2008 15,299 11,598 0 26,897
2009 16,689 12,030 3 28,722
2010 15,139 11,084 4 26,227
2011 13,287 9,864 3 23,154
2012 13,207 9,590 5 22,802
2013 12,143 8,350 18 20,511
2014 10,883 7,145 13 18,041
2015 10,798 6,945 19 17,762

Most bankrupts are male

Most bankrupts were male in each year since 2008. In 2015, 17,762 people entered into bankruptcy. Of these, 10,798 or 61% were male.

Graph: Male to female bankrupts from 2008 to 2015

More males entered business related bankruptcies than females

Most personal insolvencies are non–business related. In 2015, 29% of male debtors entered a business related bankruptcy compared to 18% of female debtors.

The proportion of debtors who entered a business related bankruptcy increased compared to 2008:

  • From 21% of male debtors in 2008 to 29% in 2015
  • From 11% of female debtors in 2008 to 18% in 2015.

Economic conditions are the main cause of business related bankruptcies for males and females

Since 2008, economic conditions were the main cause of business related bankruptcies for males and females, when we could identify the cause.

The main causes of business related bankruptcies for 2015 were:

  • Economic conditions
    • 33% of male debtors who entered business related bankruptcy
    • 36% of female debtors who entered business related bankruptcy.
  • Excessive drawings including failure to provide for taxation
    • 7% of male debtors who entered business related bankruptcy
    • 3% of female debtors who entered business related bankruptcy.
  • Lack of business ability including underquoting or failure to assess potential of business
    • 5% of male debtors who entered business related bankruptcy
    • 4% of female debtors who entered business related bankruptcy.

Unemployment or loss of income is the main cause of non-business related bankruptcies for males and females

Unemployment or loss of income was the main cause of non–business related bankruptcies for both males and females since 2008.

When we could identify the cause, the main causes of non–business related bankruptcies for 2015 were:

  • Unemployment or loss of income
    • 34% of male debtors who entered non–business related bankruptcy
    • 35% of female debtors who entered non–business related bankruptcy.
  • Excessive use of credit
    • 18% of male debtors who entered non–business related bankruptcy
    • 20% of female debtors who entered non–business related bankruptcy.
  • Domestic discord or relationship breakdowns
    • 9% of male debtors who entered non–business related bankruptcy
    • 16% of female debtors who entered non–business related bankruptcy.