Personal insolvencies up 14% in Scotland year on year

Personal insolvencies in Scotland (including bankruptcies and protected trust deeds) have risen by 14% over the past year, according to latest figures from Accountant in Bankruptcy (AiB). 

In the first three months of 2012 there were a total of 4,856 personal insolvencies in Scotland.  While bankruptcies dropped slightly (0.2%), the number of protected trust deeds – 2,247 – represented a rise of 43% over the same period the previous year.  

The report also showed that nearly 30 businesses a week became insolvent or entered receivership in Scotland in the same quarter.

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