Insolvency

Company insolvencies in Scotland fell by 4% in June 2024 compared to the previous year, totalling 109. This was comprised of 60 CVLs, 43 compulsory liquidations and six administrations. There were no CVAs and no receivership appointments.

Company insolvencies in Scotland rose by 22% year-on-year in May 2024, reaching 118. The latest data from the Insolvency Service showed this was comprised of 71 CVLs, 43 compulsory liquidations and 4 administrations. There were no CVAs and no receivership appointments.

Protections for people who are in debt and experiencing mental health problems have been approved by the Scottish Parliament. The Bankruptcy and Diligence (Scotland) Bill includes the power to bring in a pause on debt recovery action until six months after the person has finished treatment.

Michael J M Reid of MHA in Aberdeen has been appointed liquidator for a Buckie-based machinery supply company.

Scotland recorded 109 company insolvencies during the month of April, a 4% year-on-year decrease, according to The Insolvency Service. These included 48 compulsory liquidations, 59 creditors' voluntary liquidations (CVLs), and 2 administrations. This puts the overall insolvency rate in Scotland for

Kellwood Engineering, a Dumfries-based precision machining and fabrication company trading for almost 40 years, has had to close its doors with the loss of 27 employees. The director of the company, James Maitland, has appointed Donald McKinnon of Wylie & Bisset, Accountants and Business Advisor

Company insolvencies in Scotland have gone up 11% year-on-year, as 115 company insolvencies registered were registered during March 2024. This was comprised of 44 compulsory liquidations, 62 CVLs, and 9 administrations. There were no CVAs or receivership appointments.

Scottish corporate insolvencies have decreased from 346 in Q4 2022-23 to 301 in Q4 2023-24, according to the latest insolvency data statistics from Accountant in Bankruptcy (AiB). This is a decrease of 13.0%. Over the same period, there were MVLs (members voluntary liquidations) were down to 94

  Company insolvencies in Scotland rose by 9% during February compared to the previous year, totalling 94 cases, according to data from the Insolvency Service.

In January 2024 there were 88 company insolvencies registered in Scotland, 19% lower than the number in January 2023, according to The Insolvency Service. This was comprised of 34 compulsory liquidations, 46 CVLs, seven administrations and one CVA. There were no receivership appointments.

The UK construction sector is facing an “immensely difficult period” after 4,370 construction companies went bust over the past year, according to new data.

In the third quarter of 2023-24, Scotland witnessed a notable rise in corporate insolvencies, with 292 cases reported – a 7.3% increase from the previous year's figures. David Alexander, head of debt recovery at Gilson Gray, commented: “The rise in corporate insolvencies in Scotland

There were 108 company insolvencies registered in Scotland in December 2023, 5% lower than the number in December 2022, according to the latest official statistics. This was comprised of 40 compulsory liquidations, 65 CVLs and three administrations. There were no CVAs or receivership appointments.

Glasgow-headquartered housebuilder Merchant Homes Partnerships has ceased trading, making 22 employees redundant. Established in 2007 by a highly experience team to provide quality housing, incorporating innovative design, the company is well known and respected in the construction industry, providi

PwC has warned that nearly 30,000 businesses across the UK are set to fail next year, marking the highest corporate insolvency levels since 2004. The Big Four firm predicts a 15% surge in insolvencies over the next 12 months, with small businesses, particularly in catering and hotels, facing the gre