Wbg, the Glasgow-based independent accountancy and professional services firm, has acquired Glenrothes insolvency and chartered accountancy practice Dunedin Advisory, adding 11 staff and lifting its restructuring team to 33, a deal that matters broadly because it creates one of Scotland’s largest restructuring teams with five insolvency practitioners, and matters specifically to accountancy professionals because it shows firms building insolvency capacity even as Scottish corporate insolvencies fall.

Wbg is a Glasgow-headquartered accountancy and advisory firm, formed through the combination of firms including Wylie & Bisset, with 190 employees across eight offices in the UK and Ireland, including Dublin, serving more than 8,000 clients with fee income of 16 million pounds (about 18.5 million euros).

Dunedin Advisory is a Glenrothes practice founded in 2009 and employee-owned since 2020, serving mainly the east of Scotland through licensed insolvency practitioners and chartered accountants, and the combined restructuring business generates about 4 million pounds (about 4.6 million euros) a year.

Allan Dowie, chief executive of Wbg, said Dunedin specialises in business advice, growth and succession planning alongside restructuring and recovery, and supports businesses facing insolvency and individuals with personal debt or creditor guarantees. Christine Convy, director at Dunedin, said the deal will directly benefit clients by combining its advisers with Wbg’s turnaround and restructuring specialists.

The timing looks counterintuitive. Azets reported 250 corporate insolvencies in Scotland in the third quarter of 2026, down 16 per cent from 298 a year earlier, while warning that pressures remain acute.

The personal side explains the logic. Scottish bankruptcies awarded rose 25.2 per cent and debtor applications for bankruptcy rose 32.5 per cent in October to December 2025, a demand pattern that suits a firm advising individuals as well as companies.

That mix matters because Dunedin’s work spans cashflow, debt management, disputes and business exits, so the combined team can follow clients across corporate and personal problems rather than handing them to another adviser. Wbg also appointed 14 trainees last month, so the restructuring hires sit within a wider growth plan.

For the sector, a restructuring acquisition during falling corporate insolvencies shows firms treating turnaround and personal debt advice as a lasting service line, not a cyclical one.

Source: International Accounting Bulletin / Azets / Accountant in Bankruptcy