The number of corporate insolvencies recorded in the first three months of the year rose 22% compared to the same period last year.
But overall the number of insolvencies is down slightly on the last three months of 2022, indicating that the forecasted steep increase in firms going out of business is not currently happening.
Data compiled by Deloitte found 146 firms faced insolvency in the quarter, up from 120 in the same period last year.
But in the final quarter of last year, the number recorded was much higher at 154.
“Recent levels of corporate insolvency activity would suggest we are getting back to pre-pandemic levels of activity,” said Partner, Financial Advisory at Deloitte, David Van Dessel.
“However, taking 2019 as a previous …
Read the full article at: https://www.rte.ie/news/business/2023/0424/1378639-corporate-insolvencies-rose-22-in-first-quarter/