Rise in Scottish bankruptcies

Accountant in Bankruptcy (AiB), Scotland’s insolvency service, today released official statistics reporting personal and company insolvencies in Scotland for the second quarter (July to September 2018) of 2018-19.

There were 3,067 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in Scotland in 2018-19 Q2, compared with 2,493 in 2017-18 Q2, an increase of 23%.

There were 1,150 bankruptcies awarded during this quarter, a 0.3% increase on the same quarter in 2017-18. PTDs increased by 42% to 1,917 over the same period.

There were 638 Debt Payment Programmes approved under Debt Arrangement Schemes (DAS) compared with 662 in the same quarter of the previous year.

A total of £9.2 million was repaid through DAS during this quarter, compared with £9.4 million in 2017-18 Q2.

The number of Scottish registered companies becoming insolvent or entering receivership increased in the second quarter of 2018-19, with 232 companies becoming insolvent compared with 224 in 2017-18 Q2.

There were 108 members’ voluntary liquidations (solvent liquidations), down on the 134 in 2017-18 Q2.

Click here to find out more about the statistics.