Fewer Scottish companies go insolvent in April

Michelle Elliot – Restructuring advisory partner at FRP in Glasgow The number of company insolvencies registered in Scotland saw a modest decrease in April 2025, falling by 7% compared to the same month in the previous year, with 101 cases recorded. This total comprised 47 creditors’ voluntary liquidations (CVLs), 51 compulsory liquidations, and three administrations.…

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Increase in hospitality and construction insolvencies

In the past year, Dillon Eustace has seen a notable increase in insolvencies in the real estate, construction and hospitality sectors. These appointments have been by domestic alternative lenders (typically backed by international capital) or international funder clients who are not willing to show the same forbearance as the domestic pillar banks, Jamie Ensor, partner…

Recruitment consultant sentenced after fraudulently using Covid loans for personal purposes

Rico Iheagwara fraudulently applied for two £20,000 Bounce Back Loans during the summer of 2020   Iheagwara’s SJR Recruitment Limited company was not trading at the time of the applications  SJR Recruitment was placed into liquidation in 2021 with liabilities of more than £67,000 A recruitment consultant who fraudulently spent Covid support funds for personal purposes…

Business insolvencies increase by 2.9%

Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales increased by 2.9% in April 2025 to a total of 2,053 compared to March 2025’s total of 1,996, and decreased by 5.1% compared to April 2024’s total of 2,163. The business insolvencies consisted of 379 compulsory…