Insolvency rates among firms are rising, but business failure remains at historically low levels, an analysis by PwC has concluded.
In its latest Insolvency Baromoeter, PwC reported that insolvencies were up by a third in the first nine months to 468 compared to the same period last year.
The final quarter of the year is generally the busiest for business failure, it noted.
It forecasts total insolvency numbers to reach in the region of 650 for the year.
That would compare to around 539 in the whole of 2022.
The barmoter uncovered an annual failure rate of 25 companies per 10,000.
“This is 79% higher than the lowest level of insolvencies recorded in 2021 – when there were 14 – but still remains lower than pre-pandemic levels,” the report…
Read the full article at: https://www.rte.ie/news/business/2023/1002/1408388-insolvency-rates-rising-but-from-low-base-pwc/