An impending economic downturn in Scotland will leave 1,000 firms insolvent and up to 12,000 Scottish people bankrupt in 2015, a report predicts.
This amounts to roughly 20 firms going under and 230 Scottish people going bust each week, according to Bryan Jackson of UK accountancy and business advisory firm BDO LLP.
Jackson is an insolvency expert who also acts as chairman of Britain’s ICAS Insolvency Committee.
BDO LLP’s report, published on Friday, acknowledges many companies experienced growth throughout 2014. But it warns the wider UK economy is entering a period of stagnation.