The number of corporate insolvencies ticked back up to pre-pandemic levels last year, with companies in the services sector, hospitality and construction among the hardest hit, new figures show.
According to the latest insolvency and restructuring statistics from accounting firm Deloitte Ireland, there were 663 corporate insolvencies in 2023 representing a 25% increase on 2022.
Of these, 470 were creditors’ voluntary liquidations.
The services sector recorded the highest number of corporate insolvencies, with 261 during 2023 accounting for 39% of the total. Of these, 93 were in financial services, within which holding companies as well as business and management consultancy companies were the most prevalent.
The hospitality sector reco…
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