The number of business failures in Scotland increased by 6.4% last year to the highest level for nine years, according to Dun & Bradstreet, the business information firm.
A total of 4,804 failures were recorded in Scotland as the economy struggled. However, the number of failures fell each quarter – whereas 1332 ventures failed in the three months to March, 1,230 went under in the last quarter.
Company liquidations increased 38% to 1992 for the year. The number of bankruptcies fell 8% to 2,812, reflecting the trend to incorporation among sole traders and the like.
The number of business failures in Britain increased 7.2% to nearly 43,500 the highest number since 1994.
Source: Business AM/The Herald, Scotland
