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Insolvencies increase in Scotland 25/10/2018 New statistics reveal an increase of 23% in the number of personal insolvencies in Scotland in 2018-19 Q2

Insolvencies increase in Scotland

New statistics from Accountant in Bankruptcy (AiB) reveal an increase of 23% in the number of personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in Scotland in 2018-19 Q2, compared with 2017-18 Q2.

The represents a jump from 2,493 personal insolvencies to 3,067.

During the same quarter, July to September 2018, there were 1,150 bankruptcies awarded - a 0.3% increase on the same quarter in 2017-18. PTDs increased by 42% to 1,917 over the same period and there were 638 debt payment programmes approved under the Debt Arrangement Scheme compared with 662 in the same quarter of the previous year.

The number of Scottish registered companies becoming insolvent or entering receivership also increased in the second quarter of 2018-19, with 232 companies becoming insolvent compared with 224 in 2017-18 Q2. There were 108 members’ voluntary liquidations (solvent liquidations), down on the 134 in 2017-18 Q2.

The full statement of Scottish insolvency statistics for the quarter can be found here.

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