Insolvencies recorded in November down 20% on same month in 2011 - insolvency figure YTD also down on same period in 2011
140 Irish companies failed between 1st and 27th November 2012 - an average of 5 companies per day. This figure is down 20% on the same period in 2011.
The majority of insolvent companies this November were liquidated (74%) with 24% going in to receivership and the remainder entering examinership.
Figures for the first 11 months of 2012 reveal a slight drop in insolvencies when compared to the same period in 2011. 1,763 firms have failed this year compared to 1,820 in 2011 - a drop of 3%.
Industries that were worst affected in November included Construction, Professional Services and Real Estate - between them these sectors accounted for 51% of closures.
In the run up to Christmas, Retailers made up a further 12% of insolvent companies but this figure does represent a 2% drop compared to 2011's figures.
Figures for company start-ups in 2012 reveal that they are down 4% on the first 11 months of 2011 (12,884 v 13,368)
However, company closures have dropped by 7% (11,486 v 12,340), resulting in a slight expansion in the number of companies operating.
A full review of judgments awarded in October '12 shows that creditors were awarded €23.4m by the courts for unpaid debts.
€19.6m of this total was awarded against consumers with the Revenue Commissioner and Banks receiving just over €14m between them.
The number of companies that have collapsed this year. This figure is up 16% 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.
- 40 Companies
E8 (Notice Of Appointment Of Receiver)
- 22 Companies
- 0 Company
The number of companies that have closed this week.
- 295 Companies
- 306 Businesses
- 900 Companies
HIGH COURT NOTICES
- 0 Company
- 191 Companies
- 391 Companies