Official Receivers Celebrate 140-Year History
4th November 2024
London, UK – The Insolvency Service’s Official Receivers are celebrating 140 years of supporting businesses and individuals in financial difficulty.
The Official Receiver service was established in 1884 to oversee the winding up of bankrupt companies and to protect the interests of creditors. Over the years, their role has expanded to include a wide range of duties, including:
- Investigating the affairs of insolvent companies
- Realising assets to pay creditors
- Providing advice and support to struggling businesses
- Enforcing insolvency legislation
Today, Official Receivers play a vital role in the UK’s insolvency regime. They work closely with insolvency practitioners, creditors, and other stakeholders to ensure that insolvent companies are wound up fairly and efficiently.
In 2023/24, Official Receivers handled over 15,000 insolvency cases, involving assets worth over £1 billion. They also provided advice and support to over 200,000 businesses and individuals.
Sarah Albon, Chief Executive of the Insolvency Service, said: “Official Receivers have a long and proud history of supporting businesses and individuals in financial difficulty. Their work is essential to the effective functioning of the UK’s insolvency regime.”
To mark their 140th anniversary, Official Receivers are hosting a series of events throughout the year. These events will include:
- A conference on the future of insolvency
- A public exhibition on the history of Official Receivers
- A series of workshops for businesses and individuals
To learn more about the work of Official Receivers, please visit the Insolvency Service website: www.gov.uk/insolvency-service
Official Receivers celebrate 140-year history
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