The positive trends that became prevalent in 2013 have continued in to the New Year with further drops in Irish company insolvencies being seen.
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:
The number of companies that have collapsed this year. This figure is up 21% compared to last year
Click here to view the list
PREDICTIVE CREDIT REPORTS
Our Credit Reports are predicting over 80% of insolvencies at up to 6 months in advance.
- 23 Companies
E8 (Notice Of Appointment Of Receiver)
- 16 Companies
- 0 Company
The number of companies that have closed this week.
- 466 Companies
- 513 Businesses
- 899 Companies
HIGH COURT NOTICES
- 5 Companies
- 485 Companies
- 0 Company