Scottish corporate insolvencies down by 7.7%

Written by companyrescuelondonadmin 3 April 2017

The latest insolvency statistics from Accountant in Bankruptcy (AiB) show the total number of Scottish companies in liquidation fell 7.7% in the three months leading to December in 2014. This is a drop of 15.7% since the same period the year before.

Company Liquidations and Receiverships 

Financial Year

 2013-14

 2014-15

 

Percentage change
2014-15 Q3 on:

Quarter

Q3

Q4

Q1

Q2

Q3

2014-15 Q2

2013-14 Q3

Receiverships

2

1

0

1

3

200.0%

50.0%

Compulsory Liquidations

163

181

188

152

135

-11.2%

-17.2%

Creditors’ Voluntary Liquidations

64

62

62

56

55

-1.8%

-14.1%

Total Corporate Insolvencies

229

244

250

209

193

-7.7%

-15.7%

Members’ Voluntary Liquidations

119

89

118

98

117

19.4%

-1.7%

Source: AiB

As you can see, the most significant drop is compulsory liquidations. This indicates that companies are finding ways to turnaround the business and negotiate with creditors before it is too late. The number of Creditors’ Voluntary Liquidations is all also gradually falling but not quite as much, suggesting businesses are being more proactive when it comes to insolvency. 

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