Scottish Insolvency Statistics: April to June 2019 (2019-20 Quarter 1)

24 Jul 2019 11:35 AM

An Official Statistics Publication for Scotland.

*Issued on behalf of Accountant in Bankruptcy (AiB)* 

Accountant in Bankruptcy (AiB) has released official statistics reporting personal and company insolvencies in Scotland for the first quarter (April to June 2019) of 2019-20 and final estimates for the 2018-19 financial year.

Scottish Insolvency Statistics for April to June 2019 (2019-20 Q1)

There were 3,520 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in Scotland in 2019-20 Q1, more than the 3,216 personal insolvencies in the quarter in the previous year (2018-19 Q1).

A total of 1,184 bankruptcies awarded during this quarter, a 5.1% decrease on the same quarter in 2018-19. PTDs increased by 18.6% to 2,336 over the same period.

There were 738 debt payment programmes (DPPs) approved under the Debt Arrangement Scheme (DAS) compared with 646 in the same quarter of 2018-19.

A total of around £9.3 million was repaid through DAS during this quarter, similar to the £9.4 million repaid in 2018-19 Q1.

The number of Scottish registered companies becoming insolvent or entering receivership decreased in the first quarter of 2019-20, with 239 companies becoming insolvent compared with 245 in 2018-19 Q1. There were 137 members’ voluntary liquidations (solvent liquidations) in 2019-20 Q1 compared with 141 in 2018-19 Q1.

Scottish insolvency statistics in 2018-19

Final statistics show that in 2018-19 personal insolvencies in Scotland increased by 20.6% to 12,788 from 10,602 in 2017-18.

Personal insolvencies rose for the third consecutive year but remain below levels seen between 2006-07 and 2013-14.

The increase in personal insolvencies in 2018-19 was due to PTDs, which increased by 32.8% on the previous year.

In 2018-19, there were 2,544 DPPs approved under the DAS, 226 more than a year earlier. In 2018-19, £37 million was repaid from debtors under DAS compared with £37.6 million in 2017-18.

Corporate insolvencies increased from 884 in 2017-18 to 967 in 2018-19.

The figures released today were produced in accordance with the professional standards set out in the Code of Practice for Official Statistics.

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