Scottish company liquidations down 18.4% year on year

Written by companyrescuelondonadmin 3 April 2017

The total number of companies entering creditors’ voluntary liquidation, compulsory liquidation or receivership between October and December 2016 fell 18.4% since the same period in 2015. 

There were a total of 209 corporate insolvencies, down from 218 in the previous quarter. 34.5% were companies entering liquidation voluntarily while 64.5% were placed into compulsory liquidation. 

Source: https://www.aib.gov.uk/about-aib/statistics-data/quarterly-reports (quarters relate to the financial year, not calendar year)

There were also 151 members’ voluntary liquidations (solvent companies wound down) between October and December. 

Since the previous quarter, the number of companies entering a CVL actually increased slightly by 18.1% (however the number was relatively small: 11).

The overall decrease in the last year perhaps reflects the continued strength in the Scottish economy, despite the uncertainty surrounding Brexit and other global pressures. 

The latest insolvency statistics for England and Wales will be released on Friday by the Insolvency Service.