BusinessBusiness RecoveryRecord number of Scots going bust

Record number of Scots going bust

Research undertaken by Grant Thornton shows that a record number of people north of the border have gone bankrupt this year.

Link: Danger looms in Enterprise Act

According to the firm, 1,657 Scots have been sequestrated – the Scottish term for bankruptcy – in the first and second quarters of this year.

This means that bankruptcy figures for the year are likely to exceed figures for 2002, making it the highest total in almost 10 years.

Next week’s expected rise in interest rates and further rises next year are expected to worsen the situation.

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