Annual statistics for the financial year 2024-2025 show a slight increase in corporate insolvencies in Scotland, contrasted by a notable decrease in personal insolvencies.
There were 1,175 corporate insolvencies recorded, representing a marginal 0.6% rise from the previous year (1,168) and a 3.8% increase compared to 2022-2023 (1,132). In contrast, personal insolvencies dropped by 8.3% to 7,412, down from 8,082 in 2023-2024.
According to Tim Cooper, president of the insolvency and restructuring trade body R3, the rise in corporate failures stems largely from an increase in compulsory liquidations. This reflects creditors, particularly HMRC, becoming more proactive in pursuing…
