Scottish Insolvency Statistics: April to June 2017 (2017-18 Quarter 1)
An Official Statistics Publication for Scotland
Accountant in Bankruptcy (AiB) today released official statistics reporting personal and company insolvencies in Scotland for the first quarter (April to June) of 2017-18 and final statistics for 2016-17.
Scottish Insolvency Statistics for April to June 2017 (2017-18 Q1)
There were 2,839 personal insolvencies (bankruptcies and protected trust deeds (PTDs)), up from 2,420 personal insolvencies in the same of quarter of 2016-17, an increase of 17%
There were 1,289 bankruptcies awarded during this quarter, a 11% increase on the same quarter in 2016-17. The number of PTDs increased by 23% to 1,550 over the same period.
There were 597 debt payment programmes (DPPs) approved under the Debt Arrangement Scheme (DAS) compared with 511 in the same quarter of 2016-17.
A total of £9.4 million was repaid through DAS during this quarter, a 1.1% increase on the quarter in the previous year.
The number of Scottish registered companies becoming insolvent or entering receivership decreased in the first quarter of 2017-18, with 200 companies becoming insolvent compared with 265 in 2016-17 Q1. The number of members’ voluntary liquidations (solvent liquidations) decreased from 220 to 151 over the same period.
Scottish Insolvency Statistics in 2016-17
Following validation, the final 2016-17 statistics are summarised below:
- Personal insolvencies in Scotland increased by 1,558 or 18% to 10,032 in 2016-17 when compared with 2015-16.
- Personal insolvencies increased in 2016-17 but were at the second lowest level since 2005-06.
- There were 2,233 Debt Payment Programmes approved under DAS in 2016-17, 190 more than a year earlier.
- In 2016-17, £37.3 million was repaid from debtors under DAS, similar to the £38.0 million repaid in 2016-17. Through DAS, creditors receive a minimum of 90% of the debt owed to them from debtors (after DAS Administrator and payment distributor fees).
- There were 846 corporate insolvencies in Scotland in 2016-17, 56 fewer than a year earlier.
The figures released today were produced in accordance with the professional standards set out in the Code of Practice for Official Statistics.