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Wednesday, 24 April 2013

Scottish business insolvencies fall 62.8% in last quarter compared to last year

The number of people and businesses going bust in Scotland has fallen sharply, according to
Accountant in Bankruptcy (AiB), which is Scotland's version of the Insolvency Service.  The AiB said the number of Scottish companies becoming insolvent or entering receivership fell by 22.7% in the latest quarter and the total was 62.9% lower!! than a year ago.

The overall number of personal insolvencies is now at its lowest quarterly level since the Low Income Low Asset (LILA) route into bankruptcy was introduced in April 2008.

These figures are encouraging but still many businesses continue to struggle.  KSA Group has managed to help a number of businesses in the region with time to pay deals and company voluntary arrangements,  These figures are not included as it only concentrates on administrations and receiverships.

Meanwhile, the quarterly Red Flag Alert statistics, published by Begbies Traynor, indicates that since the first quarter of 2012, combined levels of distress have fallen by over 50% in Scotland.

Derek Robinson
Scottish Companies needing help can call our Scottish Office on 0131 242 0081 and you can talk to Derek Robinson our Regional Manager

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