The Insolvency Service has published its latest figures which indicate that in September 2020 Scottish company insolvencies decreased by 43% when compared to September 2019.
Business insolvencies comprised of 12 compulsory liquidations, 22 CVLs and 9 administrations. There were no company voluntary arrangements or receivership appointments.
Historically the volume of company insolvencies in Scotland have been driven by compulsory liquidations. However, since April 2020 the numbers of CVLs have been higher than compulsory liquidations in five out of six subsequent months including the most recent month.