The figure was comprised of 47 creditors’ voluntary liquidations (CVLs), 43 compulsory liquidations, and five administrations. The overall insolvency rate for the 12 months to August 2025 also saw a slight improvement, falling to 51 per 10,000 active companies.

Michelle Elliot, restructuring advisory partner at FRP in Glasgow, said: “While a fall in insolvencies is positive, operating conditions remain incredibly challenging.

“With consumer confidence so weak, businesses are having to absorb significant cost rises in order to remain competitive.

“This is putting acute pressure on margins, and there are few signs of respite on the horizon – sticky inflation is likely to keep demand low, and yesterday’s decision to hold interest rates means borrowing costs are unlikely to drop any time soon. Uncertainty over the November Budget means fresh investment decisions also starting to be delayed.

“For consumer-facing businesses in particular, the next few months will be defining. They’ll be hoping for a strong Golden Quarter to boost revenues. A disappointing performance could mean difficult decisions in the new year.”