The number of Scottish businesses going to the wall is continuing to fall.
Figures published by the Accountant in Bankruptcy have shown that the number of liquidations and receiverships has dropped for the second successive quarter
It went down 7.7% in the three months to the end of December, and by 15.7% compared with the figure in the corresponding quarter of 2013-14.
The trend was even stronger with personal bankruptcies, which have plunged to levels not seen since before the global economic downturn in 2007-2008.
Total personal insolvencies, including bankruptcies and protected trust deeds, stood at 2,633 a decrease of 12% from the previous quarter, and 21.3% lower than the same quarter a year ago.
A total of £9.3 million was repaid to creditors under the Debt Arrangement Scheme, £1.6m more than the same quarter in the previous year.
Business Minister Fergus Ewing said: “It is extremely encouraging to see personal insolvencies continue to fall year-on-year.
“Fewer companies going to the wall is also welcome news, as this means more businesses are contributing to the Scottish economy and more jobs are being retained.
“There can be no doubt insolvencies falling back to pre-recession levels reflects the improving economic picture in Scotland, but there is no room for complacency.”
Bryan Jackson, business restructuring partner with BDO, said: “The UK economy, although doing better than most comparable economies, needs the wider global economy to be recovering at the same time.
“We remain in uncertain times, and Scots need to hope for the best from the future but prepare for the worst.”
Keith Anderson, insolvency partner at Baker Tilly, warned: “As businesses start to recover, they also face the risk of overtrading and running into working capital issues, which for some can be fatal.”