30 High Court Petitions Lodged in 2011
So far this year (1st January - 24th February 2011) the Irish High Court has heard 30 Petitions for the Winding-Up of 29 Irish Companies. That's an average of just under FOUR Petitions per week in 2011.
A Creditor can make a petition to the High Court to Wind-Up a company if they can show that they are owed over €1,269.74 by the company in question.
High Court Petitions
by Industry Type
*"Others" include Business & Professional services, IT, Manufacturing Mining, Motor, Social & Personal services and Real Estate industries.
As you can see, companies in the Construction sector continue to struggle and account for 31% of the Winding-Up Petitions that have been presented to the High Court so far this year.
Companies in the Hotel & Restaurant sector along with those involved in Wholesale & Retail account for another 42% of the Petitions received so far this year.
Court Ordered Liquidations 2011
Worryingly, the High Court has already ordered that NINE of the 29 companies be Liquidated. This figure could deteriorate further as more Hearing Dates come to pass.
Once again companies in the Construction and Hotel & Restaurant industries are the most affected industry groupings:
Court ordered Liquidations
Hotels & Restaurants 3
Wholesale & Retail 2
Business & Pro Services 1
Vision-net.ie Credit Reports are successfully predicting over EIGHT OUT OF TEN Business failures in Ireland before they happen and are the ideal tool to help you avoid Bad Debts and Slow Payers.
The number of companies that have collapsed this year. This figure is up 51% 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.
- 47 Companies
E8 (Notice Of Appointment Of Receiver)
- 9 Companies
- 0 Company
The number of companies that have closed this week.
- 283 Companies
- 535 Businesses
- 2069 Companies
HIGH COURT NOTICES
- 5 Companies
- 177 Companies
- 1535 Companies