Scottish business insolvencies increase by 36%

Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 36% in July 2021.

The figures show that there were 72 company insolvencies registered in Scotland, this was 36% higher than in July 2020 but 26% lower than in July 2019.

The business insolvencies comprised of 14 compulsory liquidations, 54 CVLs and four administrations. There were no CVAs or receivership appointments.

Historically, the volume of company insolvencies registered in Scotland has been driven by compulsory liquidations. However, since April 2020, there have been over twice as many CVLs as compulsory liquidations.

In July 2021, the number of registered business insolvencies was similar to pre-pandemic levels