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Mixed picture for Scots insolvencies 27/07/2017 New figures from Accountant in Bankruptcy show fewer businesses becoming insolvent or entering receivership, but an increase in the number of personal insolvencies.

Mixed picture for Scots insolvencies

New figures from Accountant in Bankruptcy (AiB) show fewer businesses becoming insolvent or entering receivership, but an increase in the number of personal insolvencies.

The number of Scottish registered companies becoming insolvent or entering receivership decreased in the first quarter of 2017-18, with 200 companies becoming insolvent compared with 265 in 2016-17 Q1, says AiB. The number of members’ voluntary liquidations (solvent liquidations) decreased from 220 to 151 over the same period.

With regard to personal insolvencies:

  • There were 2,839 personal insolvencies (bankruptcies and protected trust deeds (PTDs)), up from 2,420 personal insolvencies in the same of quarter of 2016-17, an increase of 17%
  • There were 1,289 bankruptcies awarded during this quarter, a 11% increase on the same quarter in 2016-17. The number of PTDs increased by 23% to 1,550 over the same period.
  • There were 597 debt payment programmes approved under the Debt Arrangement Scheme (DAS) compared with 511 in the same quarter of 2016-17.
  • A total of £9.4 million was repaid through DAS during this quarter, a 1.1% increase on the quarter in the previous year.

The detailed statistics can be found here.

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