The latest figures for 2013 show that 902 Irish companies have held a meeting of creditors (MOC) with a view to entering in to liquidation - an average of three per day.
This represents a 20% drop on the same period in 2012 (1st January - 21st November) when 1,123 companies held an MOC.
According to their latest sets of filed accounts these 902 companies owe their short term creditors approximately E288.3m - while not all of these companies are insolvent, many creditors will struggle to reclaim debts owed in full.
The drop in MOCs this year has translated in to a drop in company insolvencies.
1,421 Irish companies have been declared insolvent this year - down 18% on the same period in 2012 (1,741 company insolvencies).
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.
- 37 Companies
E8 (Notice Of Appointment Of Receiver)
- 8 Companies
- 4 Companies
The number of companies that have closed this week.
- 238 Companies
- 404 Businesses
- 1143 Companies
HIGH COURT NOTICES
- 0 Company
- 174 Companies
- 340 Companies