Corporate insolvencies in the Republic rose by 22 per cent in the first quarter of 2023, according to Deloitte. The consultancy said there were 146 business failures recorded in the first three months of the year, up from 120 in the same quarter last year.
However, Deloitte noted the number of insolvencies was marginally down from 152 reported in the final quarter of 2022, which means we are not currently experiencing a steep increase in corporate insolvency activity, which many have forecasted, it said.
Recent levels of corporate insolvency activity would suggest we are getting back to pre-pandemic levels of activity, said David Van Dessel, financial advisory partner at Deloitte.
Coronavirus effect
However, taking 2019 as a previous nor…
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