Corporate insolvencies – liquidations and receiverships – in Scotland for during the third quarter of last year increased by 13.3% year-on-year.
The latest Accountancy in Bankruptcy (AiB) register data also showed that personal insolvency numbers – bankruptcies and protected trust deeds – in Scotland decreased by 4.9% year-on-year.
The quarterly and yearly rise in corporate insolvencies was largely driven by an increase in compulsory liquidations, which have increased by 72% from the same time last year.
Richard Bathgate, chair of insolvency trade body R3 in Scotland, and a restructuring partner at Johnston Carmichael, commented: This suggests that companies across the supply chain are feeling the pinch and that creditors are now prepar…
Read the full article at: https://www.insider.co.uk/news/scottish-insolvencies-rise-credit-pressure-29046897