Credit, Collections & Insolvency News
The Accountant in Bankruptcy, Scotland’s Insolvency Service that administers company insolvencies in Scotland has published its statistics for May 2020 which indicated that there were 35 company insolvencies in Scotland.
The figures showed a 55% reduction of 55% when compared to May 2019.
This comprised of 16 CVLs, 10 compulsory liquidations, six administrations and three company voluntary arrangements
There were no receiverships. Historically the volume of company insolvencies in Scotland has been driven by compulsory liquidations.
However, since April 2020 the numbers of CVLs have been higher than compulsory liquidations, as the numbers of compulsory liquidations fell by 80% in May 2020, when compared to the same month last year.
Table: Company insolvencies in Scotland, by insolvency type and month.
