The latest Scottish Insolvency Statistics for 2023-24 indicate that there were 1,168 corporate insolvencies in the year – an increase of 3% from 2022-2023’s figure of 1,132, 37% higher than 2021-2022’s figure (854), and 23% higher than pre-pandemic levels in 2019-2020 (948). Richard Bathgate, Chair of R3 in Scotland and Restructuring Partner at Johnston Carmichael, commented: “Even though the figures published today represent a modest increase on last year, corporate insolvency in Scotland is at its highest level since the 2011-12 financial year [1,369] as the economic climate continues to affect the nation’s businesses. To read R3’s news release, go to