Please visit http://www.companyrescue.co.uk/ for confidential help and insolvency advice or email keiths@ksagroup.co.uk

Thursday, 20 January 2011

More Scottish Firms Insolvent

The number of companies going into administration or liquidation in Scotland has reached a new record according to figures released by the Accountant in Bankruptcy, the insolvency service for Scotland. 1,098 companies were deemed insolvent which represents an increase of 45.8% on the previous 12 months and a rise of 21.2% on the previous highest figure of 906 from 2002.

Again, this may be due to the fact that there really is no rescue culture in Scotland. CVAs are not usually considered as there is a presumption against allowing the debtor a second chance and there is a mistaken belief that HMRC in Scotland will not support a CVA.

For more statistics and details insolvency in Scotland and help for Scottish based businesses then please refer to our Scottish rescue page

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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