Irish retailers face mounting challenges
Our probe into 5,600 Irish retail firms revealed worrying signs of business failure.
After stress testing 5,597 randomly selected retailers from across the Irish economy we found that 36% (1,992 companies) were showing signs of business failure.
Our analysis also categorised 19% of retailers as being at medium risk of collapse while 45% were deemed low risk.
These figures come after recent high-profile retailers including Black Tie, HMV and B&Q recorded trading difficulties.
Further analysis of our data indicates that the retail and wholesale sector has made up 8% of all insolvencies recorded so far this year.
However, firms in the hospitality and construction sectors showed the most acute signs of trading difficulty, recording risk of failure levels of 52% and 40% respectively.
More positively, figures for business start-ups in 2013 reveal that 11% of new companies are choosing to operate in the retail sector.
The number of companies that have collapsed this year. This figure is up 27% 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.
- 25 Companies
E8 (Notice Of Appointment Of Receiver)
- 10 Companies
- 0 Company
The number of companies that have closed this week.
- 328 Companies
- 479 Businesses
- 1226 Companies
HIGH COURT NOTICES
- 0 Company
- 170 Companies
- 756 Companies