The number of Scottish companies filing for administration has seen a significant increase, reflecting the impact of rising costs and economic uncertainty. According to a study conducted by Interpath Advisory, based on notices in The Gazette, Scotland witnessed a total of 23 companies falling into administration in Q2 2023, compared to just 3 companies in the same period last year (Q2 2022). This surge in insolvency activity indicates that Scottish businesses are returning to pre-pandemic levels after experiencing record lows in 2020 and 2021.
UK-wide Increase in Administrations
Not only has Scotland experienced a rise in administrations, but the entire UK has also witnessed an increase. In Q2 2023, a total of 315 companies fell into ad…
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