Friday, 8 June 2012

Winding up petitions advertised increase in Scotland

The latest figures from Scotland on the number of winding up petitions advertised by creditors of struggling Scottish companies shows an increase of more than 10% on the same period last year. 

In May 2011 there were 98 winding up petitions advertised against 112 in May 2012.  Although this is not a large figure it does continue to back up the statistics from the insolvency service that showed a whopping 35% increase in liquidations in the first quarter of this year. 

If your business is receiving a threat of a winding up petition and you are based in Scotland you must take immediate action as a winding up petition is more damaging in Scotland than in England as they tend to be advertised very quickly leading up to a freezing of the bank account.  Read our page on winding up petitions in Scotland for more details.

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