Fall recorded in number of Scots going bust

Wallet Personal insolvencies fell in the period leading up to Christmas while company failures rose

Related Stories

The number of Scots declared bankrupt in the final three months of last year fell, while company failures rose.

A total of 3,335 people were declared insolvent during the period - a fall of nearly 14% on the previous year.

The number of companies failing rose by more than 23% - with a steep rise in compulsory liquidations.

The figures from the Accountant in Bankruptcy also showed a sharp increase in the number of companies choosing voluntary liquidation.

Commenting on the personal insolvency figures, Enterprise Minister Fergus Ewing said: "The overall demand for statutory debt solutions in Scotland continues to decline.

"The number of bankruptcies awarded in Scotland has been decreasing since 2008-09 and we expect this to continue.

"However, we must also recognise that - within this overall, decreasing trend - the proportion of people entering bankruptcy with little income and few assets is rising."

He added: "Scotland's bankruptcy legislation has to do more to provide a safety net for vulnerable, low-income debtors and their families."

He said the Scottish government was introducing new legislation to make "cheaper and more effective debt relief to those who need it most."

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories



  • Mukesh SinghNo remorse

    Delhi bus rapist says victim shouldn't have fought back

  • Aimen DeanI spied

    The founder member of al-Qaeda who worked for MI6

  • Before and after shotsPerfect body

    Just how reliable are 'before and after' photos?

  • Lotus 97T driven by Elio de AngelisBeen and gone

    A champion F1 designer and other notable losses

  • A poster of Boris Nemtsov at a rally in St Petersburg, Russia, 1 MarchWho killed Nemtsov?

    Theories abound over murder that shocked Moscow

Try our new site and tell us what you think. Learn more
Take me there

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.