Scottish business insolvencies increase by 51%

Latest figures from Accountant in Bankruptcy (AiB) have indicated that Scottish business insolvency numbers (liquidations and receiverships) have increased,

In June 2023 there were 113 business insolvencies registered in Scotland, 51% higher than the number in June 2022.

The business insolvencies comprised of 36 compulsory liquidations, 72 CVLs and five administrations.

There were no receivership appointments or CVAs.

Historically, the volume of business nsolvencies registered in Scotland has been driven by compulsory liquidations. However, during the coronavirus pandemic, around three times as many CVLs as compulsory liquidations were registered. In the first half of 2023, CVL numbers remained more than 1.5 times higher than compulsory liquidation numbers.