Scottish business decrees fall by 44%

The number of business decrees against Scottish businesses fell, by 44 percent, from 859 to 481 according to figures released by Registry Trust.

However, the total value rose by 69 percent from just over £3 million to £5.1 million. As a result, the average value rose from £3,500 to £10,534, an increase of 200 percent. The median value rose by 142 percent from £1,068 to £2,580.

The number of decrees against larger firms fell by 43 percent, from 721 to 411. The total value rose by 92 percent, from just over £2 million to £3.9 million, with the average value up 237 percent, from £2,798 to £9,437. Decrees against smaller businesses also fell 49 percent, from 138 to 70. The total value rose by 20 percent from just under £1 million to £1.2 million, with the average value up 137 percent, from £7,169 to £16,976.

Trust chairman Mick McAteer said “Interventions by government and regulators, and forbearance by creditors, have helped Scottish consumers and businesses during the Covid-19 crisis. But, as feared, numbers are now rising sharply again as the economic effects of the pandemic work their way through the system.”