Official figures show 103 companies became insolvent. This total was comprised of 50 creditors’ voluntary liquidations (CVLs), 48 compulsory liquidations, and five administrations.

Despite the monthly surge, the overall insolvency rate for the year to September 2025 showed a slight improvement. The rate was 52.2 per 10,000 active companies, a minor decrease from the previous 12-month period.

Michelle Elliot, restructuring advisory partner at FRP in Glasgow, said: “Pressure on business will only intensify further if the IMF’s warnings of entrenched high inflation come true next year.

“This would keep consumer demand low and borrowing costs high – maintaining the acute squeeze on margins and revenue currently challenging firms in Scotland and across the UK.

“Next month’s Budget will also be decisive in shaping the near-term operating landscape. Anything that further dampens consumer confidence or raises business costs would be the final straw for companies currently on the edge, particularly hospitality firms that have been particularly hard hit after last year’s employer tax rises.”