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.