386 Irish companies have been declared insolvent so far this year.
This is an average of just under three insolvencies per day and is down 11.5% on the same period last year when 436 companies were closed.
A closer review of this year's insolvencies indicates that the construction and professional services sectors have been worst affected as they account for 19% and 18% of insolvencies respectively. The construction sector has seen 8 more insolvencies this year compared to last (72 v 64) while professional services remained in line (71 v 70).
Wholesale & retail was the next most affected industry, accounting for 14% of total insolvencies while the real estate sector saw a 29% reduction in closures with 39 being recorded - down from 55 last year.
47% of insolvent companies this year are based in Dublin which another 9% in Cork and 4% in Limerick.
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The number of companies that have collapsed this year. This figure is down 20% 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.
- 25 Companies
E8 (Notice Of Appointment Of Receiver)
- 4 Companies
- 3 Companies
The number of companies that have closed this week.
- 601 Companies
- 554 Businesses
- 585 Companies
HIGH COURT NOTICES
- 0 Company
- 301 Companies
- 0 Company