David Alexander
A nearly five per cent increase in corporate insolvencies in the past year is likely to lead to a rise in personal insolvencies in the next six to 12 months, according to Gilson Gray.
The latest figures from the Accountant in Bankruptcy (AiB) show there were 283 corporate insolvencies in July to September 2023, up by 4.8 per cent on the same period in 2022.
Of these, 105 were compulsory liquidations up 34.6 per cent and 178 were creditors voluntary liquidations, down by 7.3 per cent.
It was previously the case that most corporate insolvencies were compulsory liquidation, but creditors voluntary liquidations have made up the majority since the start of the 2020/21 financial year.
David Alexander, head of debt re…
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