Our latest figures for corporate insolvencies in Ireland this year show that 493 companies have been declared insolvent - an average of 3 per day.

This is down 24% on the figure for the same period last year when 648 Irish companies were found to be insolvent.

358 (73%) of the insolvent companies this year have either had a liquidator appointed or been ordered to Wind-Up by the High Court.

A further 122 companies have had a receiver appointed and thirteen have been placed under the protection of the courts by having an examiner appointed.

40% of insolvent companies this year were based in Dublin with a further 9% and 6% based in Cork and Galway respectively.

The most affected industry sectors so far this year are professional services, construction and wholesale & retail - accounting for 16%, 15% and 13% of insolvencies.