Scottish business debt decrees fall by nearly 40%

The number of decrees registered against Scottish businesses during the first Quarter of 2021  fell by over 40% according to latest Registry Trust data.

The number of decrees against Scottish businesses fell from 722 to 434. The total value fell by 27 percent from just under £3 million to £2.2 million. The average value rose by 22 percent from £4,151 to £5,047. The median value increased by even more, up nearly 60 percent, from £1,407 to £2,247.

The number of decrees against incorporated businesses fell by 43 percent, from 617 to 353. The total value fell by 33 percent, from £2.6 million to £1.7 million. The average value rose by just over 17 percent from £4,168 to £4,883.

Decrees against smaller businesses also declined, from 105 to 81, a fall of 23 percent. However, the total value rose by nearly 10 percent from £425,101 to £466,759 with the average value increasing by 42 percent, from £4,049 to £5,762.

Trust Chair, Mick McAteer, said “Covid-19 interventions by government and regulators, and forbearance by creditors, have helped Scottish consumers and businesses. But, numbers of decrees against Scottish consumers are rising sharply again suggesting the damage Covid has caused to household finances has started to show up.”