Credit, collections & insolvency news
Latest quarterly statistics from Accountant in Bankruptcy (AiB) have indicated that Scottish business insolvencies remained stable with only one insolvency more than the equivalent quarter of 2022.
In Quarter 4 (Q4) 2023, there were 314 total business insolvencies in Scotland. The insolvencies comprised 105 compulsory liquidations, 196 CVLs, 12 administrations and one CVA. There were no receivership appointments.
There were 2,014 personal insolvencies in Scotland, which was 2% higher than in the same quarter of 2022.
The insolvencies comprised of 1,393 protected trust deeds and 621 bankruptcies (also known as sequestrations), of which 370 went into bankruptcy via the minimal asset process route.