Scottish Insolvency Statistics: April to June 2017 (2017-18 Quarter 1)

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.