BusinessBusiness RecoveryScottish firms preparing for insolvency boom

Scottish firms preparing for insolvency boom

Insolvency arms being boosted north of the Border as the number of businesses going under and individuals declaring bankruptcy is expected to rise

Accountancy firms in Scotland are preparing for a spike in insolvency demand
in the early part of next year.

One Edinburgh-based firm, Johnston Carmichael has increased its headcount by
40%.

Matt Henderson, an insolvency practitioner with the firm, said: ‘We believe
spring 2009 will be the peak and we are expanding accordingly,’
scotsman.com
reported.

‘I, and also members of my staff, have had a lot more calls from recruitment
consultants than usual, suggesting other firms are doing the same and that there
are more jobs around.’

It is now easier to declare bankruptcy in Scotland after a recent rule
change. This is expected to translate into a higher number of personal
insolvencies in Scotland next year.

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