Research shows Three in Five consumers cautious about buying vouchers in case firms go bust
Our survey has found that 53% would not be confident buying a voucher for a hotel or spa, and 37% felt there was a chance that a voucher for a local restaurant would not be redeemable.
- 53% would not be confident buying a hotel or spa voucher
- 29% have had a voucher that could not be redeemed
- 90% would buy a voucher if they knew the business was stable
In the past, 29% of respondents had either bought or received a gift voucher which they could not use because the business stopped trading
Overall, 57% said they would not be confident buying a voucher as a gift this Christmas.
This caution is unsurprising due to the current economic conditions we're experiencing where we're seeing an average of six Irish companies collapsing daily.
An excellent way of avoiding the pitfalls that come with insolvent companies is to investigate the financial history of potential trade partners before parting with any money or extending credit.
Encouragingly, our survey found that nine out of 10 consumers would buy a gift voucher or large item in the run-up to Christmas if they were reassured about the stability of the business.
The number of companies that have collapsed this year. This figure is up 9% 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.
- 52 Companies
E8 (Notice Of Appointment Of Receiver)
- 13 Companies
- 3 Companies
The number of companies that have closed this week.
- 320 Companies
- 505 Businesses
- 968 Companies
HIGH COURT NOTICES
- 6 Companies
- 231 Companies
- 381 Companies