Business Barometer

Insolvencies down 32% and Start-Ups rise 7% this February

The number of insolvent Irish companies recorded this month is down almost a third compared to same period in 2012.

These results continue the positive trend from January 2013 where a 21% drop in insolvencies was recorded.

Figures covering the period 1st - 25th February 2013 show that 140 companies were declared insolvent - an average of 6 per day - which represents a 32% drop on the same period in 2012 when 205 insolvencies took place. This February saw 99 companies be liquidated, 39 enter receivership and the remaining two have an examiner appointed to them.

44% of insolvent companies had an address in Dublin with Cork and Kildare, between them, recording a further 18% of insolvencies - 10% and 8% respectively. 95 companies held, or will hold, a meeting of creditors to appoint a liquidator in February. These companies owe a combined debt of €20.8m to their short term creditors.

Figures for February also reveal that 3,418 companies and businesses were started - up 7% on the same period in 2012 - an average of 136 start-ups per day. 2,277 of these were registered businesses with a further 1,141 new companies being incorporated.

Figures for non-payment of debt show that 554 registered consumer and commercial judgments worth €29.4m were awarded by the courts in January 2013. 396 of these worth €26.4m were awarded against consumers - meaning an average judgment value of just over €66,661.

Insolvency Notices

1,513

The number of companies that have collapsed this year. This figure is down 5% 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.

Appointments

LIQUIDATORS

  • 33 Companies

E8 (Notice Of Appointment Of Receiver)

  • 14 Companies

EXAMINERS

  • 3 Companies

Meetings of Creditors

21st of February, 2013

20th of February, 2013

19th of February, 2013

18th of February, 2013

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Closures

156

The number of companies that have closed this week.

New Startups

New Companies

  • 296 Companies

New Businesses

  • 635 Businesses

Important Changes

Changed Status

  • 1309 Companies

HIGH COURT NOTICES

  • 2 Companies

Strike off & Struck off Companies

Strike Off

  • 177 Companies

Struck Off

  • 211 Companies

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