This total comprised 47 creditors’ voluntary liquidations (CVLs), 51 compulsory liquidations, and three administrations. There were no company voluntary arrangements (CVAs) or receivership appointments.

Looking at the broader picture, the company insolvency rate in Scotland for the 12 months ending April 2025 stood at 51.2 per 10,000 active companies. This figure represents a slight improvement, down by 1.5 from the rate recorded in the 12 months leading up to April 2024.

Michelle Elliot, restructuring advisory partner at FRP in Glasgow, said: “While these figures are welcome, many Scottish businesses are still operating under considerable financial strain.

“Despite some modest economic growth earlier in the year, the reality for most sectors is that operating costs continue to climb, and consumer demand remains weak – a combination that’s punishing for margins.

“We don’t think we’ve seen the worst yet – it will likely be the Autumn before we really start to see the impact of last month’s national insurance rise, which has added significantly to businesses’ overall burdens. Management teams need to remain vigilant for any cracks in their operations, and act quickly to make the most of time they have to recover.”