Scots business failures jump by fifth

The number of Scottish business failures in 2018 rose 21% year-on-year, from 780 to 945, according to analysis of the latest official figures from the Accountant in Bankruptcy (AiB).

It marks the highest annual figure for corporate insolvencies since 2012 and is the fourth highest level ever recorded. Eileen Blackburn, head of restructuring and debt advisory at French Duncan, said: “That this is happening when interest rates are at historically low levels, when unemployment is at a record low and the economy is growing indicates something more fundamental is happening”.