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Scottish liquidations reach record levels

8 Aug 11 The number of Scottish construction companies going into liquidation leapt 52% in the last quarter to reach its highest level since the recession began.

A total of 85 construction companies in Scotland were liquidated in the second quarter of 2011 – up from 56 in the first quarter. The previous worst quarter since the start of 2008 was Q2 2010, when 70 companies went into liquidation.

There were 51 construction companies in Scotland that were forced into compulsory liquidation in Q2 2011, up from 38 in the first quarter. The previous highest quarterly figure since the start of 2008 was 48 in Q2 2010.

Creditors’ voluntary liquidations in Scottish construction nearly doubled, up from 18 companies in the first quarter of 2011 to 34 in Q2. The previous worst quarter was also Q2 2010 when 22 companies shut down through this route.

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