THE number of Scottish corporate insolvencies in the first quarter was down 19 per cent on a year earlier, with business failure levels now back at normal levels, analysis by KPMG shows.
Blair Nimmo, head of restructuring at KPMG, declared the accountancy firm had seen the return of some stability to the Scottish oil and gas sector as the latest figures were published.
According to KPMG, the total number of business insolvency appointments in Scotland in the first quarter was 170, down from 211 in the same period of last year. This year-on-year comparison strips out the effect of seasonal fluctuations in insolvencies.
In the fourth quarter of last year, there were 206 corporate insolvency appointments in Scotland.
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