Scottish corporate failures fall 7.6% during 2015 but solvent liquidations up by 35.8 %

Scottish corporate failures fall 7.6% during 2015 but solvent liquidations up by 35.8 %

The number of Scottish firms undergoing business insolvency in the whole of 2015 was down 7.6% during 2015 according to analysis of the latest figures by restructuring, recovery and insolvency boutique mlm Solutions. The latest Accountant in Bankruptcy (AiB) figures show that 828 Scottish firms failed during 2015 compared with 896 the previous year (please note that the AiB uses the financial year April to March as its base so although their current figure states Q3 this refers to October to December 2015 which we call Q4). However, there was a 41.1% increase between Q3 and Q4 and a 31.5% increase on the same quarter in 2014 and this marks two consecutive substantial increases in the latter half of 2015.

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Solvency Abuse - Members' Voluntary Liquidation

Solvency Abuse - Members' Voluntary Liquidation

For a Chancellor committed to the abolition of red tape, one of the subtle changes George Osborne introduced this year is likely to tie some SME owners up in the stuff.  For those who may be seeking to wind up a solvent business, the new measures have the potential to heap time, costs and complexity into the process.

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