Scots business failures jump 32% to 282

BUSINESS failures north of the Border jumped 32 per cent in the first three months of this year, according to official figures released yesterday.

Scottish Government agency the Accountant in Bankruptcy said 282 Scottish-registered companies became insolvent or entered receivership in the quarter to the end of March.

The figures largely mirror those released on Thursday by accounting firm KPMG.

Rosemary Winter-Scott, chief executive of the Accountant in Bankruptcy, said: "The increased number of company insolvencies reported in the last quarter may be an indication that Scottish businesses are experiencing difficulties, but it is too soon to assume a trend."

Figures from the Insolvency Service showed a 4 per cent fall in company liquidations in England and Wales.