The number of Scottish registered companies becoming insolvent or entering receivership in the fourth quarter of 2015-16 (first quarter of the year) was 229, a drop of 9.8per cent on the previous quarter, though 16.2per cent higher than a year earlier. The annual total of 860 liquidations and receiverships was 1.3 per cent higher than for 2014-15. Tim Cooper, Scottish chair of insolvency trade body R3, said a downward trend was continuing. But for those businesses hardest hit by the oil price fall, a recovery in the price “may be too late”.
Addi Shamash, corporate restructuring partner in HBJ Gateley’s Aberdeen office, said while parts of the Scottish economy were enjoying strong growth, several sectors notably the North Sea were finding the going particularly tough.
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