Seven Irish companies were declared insolvent each day this October.
168 companies failed between the 1st and 25th October this year - an average of seven a day. This figure is up 39% on the same period in 2011.
The majority of these companies (110) were liquidated - these included Treasury Holdings and 15 related companies that were wound up by the High Court.
A further 54 entering receivership (ten of these companies can be linked to business man Bill Cullen) and the remainder having an examiner appointed to them.
3,053 companies and businesses were set up in October - an average of 122 per day. This figure is up 19% on the same period in 2011.
Almost a quarter of company start-ups were in the professional services sector with the wholesale & retail, social & personal service and IT sectors accounting for a further 31% of new companies between them.
...A review of judgments made in September shows that creditors were awarded €26.5m by the courts for unpaid debts.
€18.8m of that total was awarded against consumers with the Revenue Commissioners, credit unions, banks, real estate and utilities companies being the biggest beneficiaries.
The number of companies that have collapsed this year. This figure is down 8% compared to last year
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PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 30 Companies
E8 (Notice Of Appointment Of Receiver)
- 3 Companies
- 2 Companies
The number of companies that have closed this week.
- 237 Companies
- 203 Businesses
- 1957 Companies
HIGH COURT NOTICES
- 0 Company
- 1584 Companies
- 110 Companies