Tuesday, 7 February 2012

Scottish Insolvency Statistics

The recent statistics on insolvency in the UK has highlighted the fact that Scotland has been struggling more than other parts of the country. This is because the insolvency rate for both individuals and companies is proportionally higher than the rate in England and Wales.

2010 there was a total of 1041 liquidations, 241 administrations, and 7 CVAs
2011 there was a total of 1237 liquidations, 236 administrations, and 14 CVAs

From the figures above it is liquidations that have seen the biggest rise. However, the fact that CVAs have gone up from 7 to 14 is progress in that it is likely that this rescue mechanism is being considered appropriate more often! Anyone who wishes to have a fuller understanding of the CVA mechanism can register their interest in the next Scottish CVA Seminar. Or you can call our Scottish Regional Manager Derek Robinson on 0131 242 0081

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