Accountant in Bankruptcy (AIB) has published Scotland’s latest Insolvency figures. The number of Scottish registered companies becoming insolvent or entering receivership decreased in the fourth quarter of 2016-17, with 155 companies becoming insolvent compared with 230 in 2015-16 Q4. The number of members’ voluntary liquidations (solvent liquidations) decreased from 358 to 119 over the same period.
There were 840 corporate insolvencies in 2016-17, 63 fewer than in 2015-16 and 591 Members’ Voluntary Liquidations (MVLs), a 27% decrease on the previous year. In 2015-16 there was a spike in MVLs inJanuaryy to March 2016, likely due to an increase in the number of oil companies closing down. The number of MVLs in 201617 has fallen back but remains higher than the 480 MVLs in 201415. Table 2 shows the types of corporate insolvency between 201516 Q3 and 201617 Q4. The majority of corporate insolvencies are compulsory liquidations with all types decreasing since 201516 Q4.