Over 660 corporate insolvencies were recorded in Ireland in 2023, according to the latest Insolvency & Restructuring Statistics compiled by Deloitte Ireland, a 25% increase on the previous year.
There were 33 SCARP (Small Company Administrative Rescue Process) appointments in 2023, some of which saved around 211 jobs.
Of the 33 SCARP appointments, five were unsuccessful resulting in liquidation and 70 job losses and 10 are ongoing which impacts 178 jobs.
Since its introduction in 2021, there have been a total of 55 SCARP appointments with 35 being successful reflecting a success rate of 76% and resulting in almost 600 jobs being saved.
James Anderson, Turnaround & Restructuring Partner at Deloitte Ireland said this year’s statistics sho…
Read the full article at: https://www.rte.ie/news/business/2024/0104/1424647-663-corporate-insolvencies-in-2023-deloitte-ireland/