There were 1,168 corporate insolvencies in 2023/2024 – up 3% from 2022/2023s figure of 1,132 – and a rise of 23% when compared to pre-pandemic levels in 2019/2020.
There were 8,085 personal insolvencies in the last financial year, up 1% on 2022/2023s figure of 8,001, but down 40% compared to pre-pandemic levels, according to the latest figures from Scotland’s insolvency service Accountant in Bankruptcy.
Richard Bathgate, chair of insolvency and restructuring trade body R3 in Scotland, said: Compulsory liquidations have increased by more than 31% compared to last year, as creditors chase down debt in an attempt to balance their own books, although it should be noted numbers for this process are still below pre-pandemic levels.
Creditors…
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