Scottish insolvencies business insolvencies increase whilst personal insolvencies remain static

Latest quarterly statistics from Accountant in Bankruptcy (AiB) indicated that Scottish business insolvencies increased by 7%.

In Quarter 3 (Q3), there were 296 total company insolvencies in Scotland, 7% higher than in the same quarter of 2022.

The business insolvencies comprised 107 compulsory liquidations, 174 CVLs and 15 administrations.

There were no CVAs or receivership appointments.

Meanwhile, there were 2,074 personal insolvencies in Scotland, which was similar to the number in the same quarter of 2022.

The personal insolvencies. comprised of 1,504 protected trust deeds and 570 bankruptcies (also known as sequestrations), of which 331 went into bankruptcy via the minimal asset process route.