THE number of Scottish company insolvencies has almost halved since the first quarter of 2013, dropping to levels not seen since the recession took hold.

Accountancy firm KPMG found administration and receivership appointments, which typically affect larger organisations, stood at 15 in the first quarter of this year, dropping from 28 in the same quarter in 2013. Blair Nimmo, head of restructuring at KPMG in Scotland, said: "We are seeing fewer large company insolvencies coming across our desk, suggesting most corporates are in better shape than they have been."

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