The number of companies folding in Scotland has decreased by more than a third in the last quarter.
According to Big Four firm KMPG the number of companies entering into administration, receivership or liquidation in Scotland has dropped by 34.7%.
The new analysis shows there were 158 corporate insolvency appointments in the three months to September 30, down from 244 in the previous quarter and 242 in the same period last year.
Of those cases, 140 involved liquidation, down from 232 in quarter two. There were 18 administration and receivership appointments, up from 12 in the previous quarter; and 43 cases were HMRC appointments, down from 93 in Q2.
Blair Nimmo, head of restructuring for KPMG, said firms were readying themselves for Brexit, which could be adding an extra layer of protection.
He said: “With ongoing political and economic uncertainty increasing pressure on the UK’s retailers, there have been a number of particularly high profile administrations and liquidations in the last quarter, but our latest insolvency data offers up some cause for optimism.
“The latest quarterly data confirms a relatively minor rise in administrations, with liquidations and HMRC cases both down.
“The data appears to reflect a growing sense of resilience from the business community.
“Companies across all industries are now proactively addressing long-term issues and attempting to place themselves on a more sure financial footing, ahead of any impending challenges that issues including Brexit could create.
“From CVA proposals for retailers, to refinancing in other sectors, there are options for the business community, and they seem to be paying off for those Scottish firms that have opted to take a fiscally cautious approach.
“Nevertheless, these results are surprising in the context of Brexit, and the October 31 deadline, around which we are seeing an increasing level of concern across all businesses, and some specific sectors. With the outcome still unclear, the next quarter’s results should be interesting.”