Accountant In Bankruptcy

Announcing a strategic review of the country's debt solutions, Scotland's Minister for Community Wealth and Public Finance, Tom Arthur, has appointed Yvonne MacDermid OBE, a prominent financial advice expert and the former chief executive of Money Advice Scotland (MAS) to spearhead the initiative.

Scottish business insolvencies have increased by 19.7% to 292, compared with the first quarter of 2022-23, according to the latest figures released by Accountant in Bankruptcy (AiB).

Corporate insolvencies in Scotland have reached an eleven year high, with 1,132 insolvencies recorded in the year 2022-23.

The latest official statistics released by Accountant in Bankruptcy (AiB) reveal that corporate insolvencies are on the rise in Scotland.

New data from the Accountant in Bankruptcy (AiB) has shown an increase in both corporate and personal insolvencies. Corporate insolvencies rose to 270 for Q2 2022-23 up from 221 for the same period last year, a significant increase of 28%. Likewise total personal insolvencies reached 2,069, a 7.7% y

The number of personal insolvencies seen across Scotland rose by 11.2% during the first six months of 2022. Amid spiralling inflation and rising interest rates, fuel and energy costs continue to put households under pressure leading to an increase in personal insolvencies.

In the first quarter of this year, corporate insolvency numbers (liquidations and receiverships) in Scotland rose by 49.1%, compared with the same period in 2021. According to new figures published by the Accountant in Bankruptcy (AiB) - Scotland's Insolvency Service - the number of corporate insolv