The number of companies declared insolvent in Galway City and County in the first eleven months of 2016 has dropped by almost one quarter on the same period last year.
And the number of new companies set up during the same period saw an increase.
Statistics compiled for the Connacht Tribune for January to the end of November the most up-to-date figures available shows there were a total of 44 insolvencies recorded in Galway.
That figure is down from 57 for the same nine-month period in 2015, a reduction of almost 23%.
The total figure includes liquidations, receiverships and examinerships and focuses on companies which were not able to repay their debts as they fell due.
The statistics were provided to the Connacht T…
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