Thursday, 26 April 2012

Scottish business insolvencies on the increase

The latest report from the Accountants in Bankruptcy (AIB) has published some terrible insolvency figures for the first 3 months of the year.  Between January and March 2012 385 Scots firms became formally insolvent.  This represents a rise of 37.5 per cent on the previous quarter and a rise of 30.9 per cent on the same period last year.  It is the year on year figures that are the most relevant.  Personal insolvencies also rose by 14%.  Funnily enough these figures do not include any CVAs.  That is because for the whole of last year only 14 were done!  See our page on Scottish CVAs.

It is likely that Scotland will suffer more in the future due to its dependence on public sector spending which is likely to be reined back further in the coming months.

If your business is in difficulty then call me on 0131 242 0081 or my mobile 0771 476 5578.  I will always look at rescue as first option.

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