Scottish Company Insolvencies Up 5%
Figures released have shown that during November there were 114 company insolvencies registered in Scotland, 5% higher year-on-year.
The latest statistics from the Insolvency Service showed that this was comprised of 55 creditors' voluntary liquidations (CVLs), 54 compulsory liquidations and five administrations. There were no company voluntary arrangements or receivership appointments.
Historically, compulsory liquidations were the most common type of company insolvency in Scotland, but since April 2020, numbers of CVLs have typically remained higher than numbers of compulsory liquidations.
Between 26 June 2020 and 30 November 2024, there were two restructuring plans in Scotland. There were no moratoriums.
Michelle Elliot, restructuring advisory partner at FRP in Glasgow, commented: “Insolvency levels, particularly liquidations, have remained high throughout the course of the year and, despite improving economic conditions - including lower levels of inflation and interest rate cuts - we anticipate them remaining so in 2025, as firms continue to carry unsustainable levels of debt."