During October 2023 there were 99 company insolvencies registered in Scotland – 21% higher year-on-year.
This was comprised of 35 compulsory liquidations, 58 creditors’ voluntary liquidations (CVLs), four administrations and two company voluntary arrangements (CVAs). There were no receivership appointments.
Historically, the volume of company insolvencies 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 10 months of 2023, CVL numbers remained more than 1.5 times higher than compulsory liquidation numbers.
Between 26 June 2020 and 31 October 2023, in Scotland, no moratoriums were obtained an…
Read the full article at: https://www.insider.co.uk/news/scottish-company-insolvencies-up-21-31433319