Irish pubs struggling in tough economic conditions
Our probe in to almost 2,500 companies operating in the hospitality sector in Ireland revealed that a large percentage were displaying signs consistent with business failure - amongst the worst affected were Ireland's pubs.
Our stress test of 945 pubs (43% of all pubs trading in the country), showed that 49% were seen to be High Risk and in danger of collapse.
A further 20% of pubs were seen to be Medium Risks with the remaining 31% deemed to be Low Risk
As part of the same survey we also stress tested a randomly selected sample of Irish hotels and restaurants.
Of the 990 restaurants tested we found that 494 were rated as being at a high risk of failure. 183 were a medium risk and the remaining 313 were deemed to be low risk.
Hotels did not fare much better with 263 of the 547 tested showing up as high risk and a further 149 being a medium risk.
An overall view of the hospitality sector this year reveals that it has accounted for 6% of closures and 6.5% of start-ups in 2013.
The number of companies that have collapsed this year. This figure is up 15% 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.
- 22 Companies
E8 (Notice Of Appointment Of Receiver)
- 6 Companies
- 0 Company
The number of companies that have closed this week.
- 245 Companies
- 278 Businesses
- 984 Companies
HIGH COURT NOTICES
- 3 Companies
- 191 Companies
- 0 Company