Business Barometer

Irish Company Insolvencies up 45% in 2023, and your exposure to bad debt judgements.

In 2023, Ireland witnessed a total of 8,030 companies dissolved over the 12 month span. It should be noted that most companies can be dissolved for reasons other than insolvency, such as reaching the natural end of its lifecycle, to the director retiring, and so on. That being said, this figure is down 5.3% on 2022, which saw 8,457 companies dissolved.

In contrast to this, the number of company insolvencies spiked last year, increasing 45% in 2023 to 679. This figure is broken down further, by month of highest insolvencies, and industry. December recorded the highest number of company insolvencies, with a total of 113, and the most insolvent sector was Legal, Accounting, and Business, at 112 insolvencies recorded in 2023.

On the matter of bankruptcies and personal insolvency, 72 Bankruptcy cases were recorded in 2023, and 315 Personal Insolvency Agreements. Companies and business managers understand the importance of fully risk checking their clients, customers, and business partners, to minimise risk and their exposure to bad debt judgements.

The importance of checking your customers was emphasised in 2023, as the value of Bad Debt Judgements registered in 2023 increased by 43%, and the number of Judgements also increased by 67%.

CRIFVision-net has the data, tools, and intelligence to correctly predict over 80% of insolvencies, on average 6 months before they happen. Our credit reports use the latest technology along with key critical risk factors to protect businesses like yours, by empowering them with the information and intelligence needed for business readiness.

The 2023 Annual Review of Business in Ireland includes insights like these, and more.

To find out more, call us on Tel: (01) 903 2660, or email us at solutions.vision-net@crif.com to learn more.

Insolvency Notices

818

The number of companies that have collapsed this year. This figure is up 36% 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.

Appointments

LIQUIDATORS

  • 57 Companies

E8 (Notice Of Appointment Of Receiver)

  • 1 Company

EXAMINERS

  • 0 Company

Closures

96

The number of companies that have closed this week.

New Startups

New Companies

  • 424 Companies

New Businesses

  • 614 Businesses

Important Changes

Changed Status

  • 2943 Companies

HIGH COURT NOTICES

  • 2 Companies

Strike off & Struck off Companies

Strike Off

  • 91 Companies

Struck Off

  • 131 Companies

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