Michelle Elliot
Company insolvencies in Scotland rose by 22% year-on-year in May 2024, reaching 118.
The latest data from the Insolvency Service showed this was comprised of 71 CVLs, 43 compulsory liquidations and 4 administrations. There were no CVAs and no receivership appointments.
The total insolvency rate in Scotland in the 12 months to May 2024 was 53.4 per 10,000 companies on the effective register. This was up by 1.3 from the preceding 12 months ending May 2023.
Michelle Elliot, restructuring advisory partner at FRP in Glasgow, said: While Scottish business confidence is strengthening, this data reflects the fact that these are still challenging and volatile trading conditions.
Economic growth has flatlined aga…
Read the full article at: https://www.scottishfinancialnews.com/articles/scottish-company-insolvencies-up-22-year-on-year-in-may