Figures recorded between the 1st and 27th January 2014 showed that company insolvencies fell by 26% and 41% when compared to the same periods in 2013 and 2012 respectively.

This month saw 74 company insolvencies recorded with approximately 49% of these having a registered address in Dublin, this is up 14% compared to the same period in 2013. Galway, Wexford and Cork accounted for a further 20% of insolvencies (8%, 7% and 5% respectively).

The hardest hit industry this month was real estate which accounted for 16% of company insolvencies - up 6% on the same period last year. Construction and hospitality made up a further 15% and 14% of insolvencies respectively.

There was a sharp decline in the number of companies holding Meetings of Creditors to appoint a liquidator this month. In total 46 companies held an MOC, down 48% on January 2013.

Company and Business start-ups were in line with last January with 2,958 being formed.

To view our guide to the various trends affecting Irish companies in January 2014 simply click the link below:

https://www.vision-net.ie/news/significant-drop-in-company-insolvencies-recorded-in-january-2014/