A total of 74 insolvencies were recorded during the month, consisting of 42 creditors’ voluntary liquidations and 32 compulsory liquidations. There were no new administrations, company voluntary arrangements, or receivership appointments during this period.

Despite the slight monthly dip, the long-term insolvency rate has edged upwards. In the 12 months leading to January 2026, the rate reached 52.1 per 10,000 companies, representing a small increase from the 51.3 recorded in the preceding year.

Michelle Elliot, restructuring advisory partner at FRP in Glasgow, said: “While insolvency levels have dipped this month, many Scottish businesses are still under real pressure. High operating costs and inflation that’s proving slow to ease continue to squeeze margins and leave firms more vulnerable to unexpected shocks.

“That exposure, in what remain volatile operating conditions, makes it increasingly important for businesses to be proactive – stress-testing cashflow and costs, and having robust contingency plans in place if they start to run short of cash headroom.”