The figure was made up of 53 creditors’ voluntary liquidations (CVLs), 49 compulsory liquidations and five administrations. There were no company voluntary arrangements (CVAs) or receivership appointments during the month.

Over the longer term, the data also reflects the limited uptake of newer restructuring tools. Between 26 June 2020 and 30 April 2026, Scotland saw just three restructuring plans and two moratoriums, both procedures introduced under the Corporate Insolvency and Governance Act 2020.

The total insolvency rate in Scotland in the 12 months to April 2026 stood at 52.4 per 10,000 companies on the effective register, up 1.2 from the equivalent period ending April 2025.

Michelle Elliot, restructuring advisory partner at FRP, said: “It’s likely that this month’s rise in insolvencies is a harbinger of things to come. Businesses are being squeezed from multiple directions – rising energy costs as conflict in the Middle East drags on, uncertainty over Labour’s leadership in Westminster and the recent 2026 Holyrood election adding a further layer of uncertainty.

“Amid this context, more firms will be tempted to hold off on hiring, investment and pricing decisions – but in a volatile environment, hesitation has a cost. This is a particular concern for energy-intensive manufacturers facing margin pressure from elevated power costs, and service firms navigating softer client demand.

“The firms that come through this period in the strongest shape will be those stress-testing cashflow, reviewing cost bases and taking advice now, while the full range of options is still open to them.”