Scotlands businesses are still suffering from a Covid hangover with new divs showing the number of firms becoming insolvent has reached an 11-year high.
Corporate insolvences rose to 1,132 in 2022-23, with this up by almost a third (32.6%) on the previous year, new divs from the Accountant in Bankruptcy showed.
The 2022-23 total is nearly a fifth (19.4%) higher than pre-pandemic, with 948 insolvencies recorded in 2019-20 with an expert warning a further wave of insolvencies is inevitable unless economic circumstances improve drastically.
The statistics also showed a rise in personal insolvencies to 8,004 in 2022-23 with this up by 3% on the previous years total.
However, personal insolvencies which includes those who go bankrupt as w…
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