Business Barometer

Our Stress Test indicates that almost 50% of Irish companies are showing signs of business failure!

During the first four weeks of July 2012 we carefully stress tested just over 9,400 Irish companies and found that 49% could be classified as High Risk and displayed signs consistent with business failure. A further 17% of companies surveyed were deemed to be Medium risks with the remainder being classed as Low Risk.

That period also saw 131 Irish company insolvencies being registered, an average of 5 insolvencies per day. This figure represents a 15% drop on the same period in 2011.

Of the 131 insolvencies 74% were liquidated and 25% had a receiver appointed. One company had an examiner appointed between 1st and 25th July 2012.

July also saw 101 Irish companies hold a Meeting of Creditors to appoint a liquidator. The figure is down 14% on July '11 but, according to their latest accounts, these companies owed their short term creditors slightly over €37m.

Start-Ups:

More positively, 2,750 start-ups were registered in the first four weeks of July, an average of 110 a day. This compares to 2,871 start-ups for the same period in 2011.

Over 1,800 of these start-ups were registered business names with the remainder being company incorporations.

The most popular industry for start-ups is the professional services sector which has accounted for almost a quarter of all new businesses this year.

Wholesale & Retail along with Social & Personal Services are the next most popular industries and, together, account for a third of new businesses formed this year.

Unpaid Debt - Court Judgments:

The Irish Courts awarded 345 registered judgments in favour of creditors for unpaid debts in July. The value of these was €27.5m. That's an average value per judgment of just over €76,600. This represents a 76% increase on the average value of a judgment that was recorded in July 2011.

In terms of value, banks were the main beneficiaries, receiving over €18m in judgment awards whilst Credit Unions received the most awards in their favour (73).

Insolvency Notices

1,513

The number of companies that have collapsed this year. This figure is down 5% compared to last year
Click here to view the list


PREDICTIVE CREDIT REPORTS

Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.

Appointments

LIQUIDATORS

  • 43 Companies

E8 (Notice Of Appointment Of Receiver)

  • 16 Companies

EXAMINERS

  • 0 Company

Closures

33

The number of companies that have closed this week.

New Startups

New Companies

  • 236 Companies

New Businesses

  • 268 Businesses

Important Changes

Changed Status

  • 855 Companies

HIGH COURT NOTICES

  • 3 Companies

Strike off & Struck off Companies

Strike Off

  • 328 Companies

Struck Off

  • 172 Companies

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