In May there were 118 company insolvencies registered in Scotland, 22% higher than during the same period last year.
This was comprised of 71 creditors’ voluntary liquidations (CVLs), 43 compulsory liquidations and four administrations.
There were no company voluntary arrangements (CVAs) and no receivership appointments recorded in the figures from Accountant in Bankruptcy, Scotland’s insolvency service.
Between 26 June 2020 and 31 May 2024, in Scotland, no moratoriums were obtained and two companies had a restructuring plan registered at Companies House.
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 …
Read the full article at: https://www.insider.co.uk/news/scottish-company-insolvencies-up-22-33053507