The reduction of the limit for sequestration proceedings at the end of this week could lead to a wave of smaller businesses in Scotland being made bankrupt, according to a Scottish law firm.
On 30 September, the limit for pursuing sequestration will be lowered from £10,000 to £5,000.
It was originally increased from £3,000 to £10,000 following the initial onset of the pandemic during March 2020, to provide support for smaller businesses and sole traders, in particular.
