A NORTH Yorkshire seaside town ranks in the top ten for personal insolvency, according to a new survey.

Looking at the geographical spread in the statistics, coastal towns throughout England and Wales typically had the highest concentrations of personal insolvencies in 2018, says the insolvency trade body, R3.

And Scarborough had the second highest number of personal insolvencies of any local authority in the country, with 47.8 insolvencies per 10,000 adults.

During 2018, Scarborough saw 426 new cases of personal insolvency.

York had the region’s lowest personal insolvency rate in 2018, at 18.5 per 10,000.

R3, who compiled the report, are the Association of Business Recovery Professionals.

The chairman of R3 in Yorkshire is Eleanor Temple.

She said: “While the areas with the highest levels of personal insolvency are largely unchanged from last year, it’s disappointing to see three towns in our region now in the top ten areas with the highest rates.

"Coastal areas often have higher rates of personal insolvency than inland areas.

"Scarborough, being a prime example of this.”