BusinessBusiness RecoveryHuge spike in Glasgow bankruptcies

Huge spike in Glasgow bankruptcies

Official figures show 128% rise in bankrupts in the first half of the year

Glasgow has seen the biggest rise in bankruptcies in Scotland, with the
number of people demanding protection from creditors having jumped 128% in the
first half of the year, new figures have shown.

Between January and June the city and its surrounding areas saw 1,287
bankruptcies, up from 549 for the same period last year, but experts have warned
that the worst may still be to come. Recent round of redundancies could see the
figures reach higher levels in the second half of 2009.

The figures, released by the Accountant in Bankruptcy, also showed a 92% rise
in the Lothian and Borders area, which includes Edinburgh, from 675 to 1,298,
reported the
Times.
In total, 7,526 people were declared bankrupt in the first half of the year.

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