Sunday 21 January 2018

Number of insolvent companies drops by 18pc so far this year

Christine Cullen: of Vision-net
Christine Cullen: of Vision-net

There has been an 18pc fall in the number of insolvent firms so far this year, new research shows.

The number of company and business start-ups has grown 9.4pc compared with the same period in 2012, according to data from credit risk analyst Vision-net.

Five companies became insolvent in November with 58pc of those companies coming from Dublin. Galway and Cork accounted for 6.9pc and 4.6pc of insolvencies respectively.

November saw 2,550 business start-ups or an average of 102 each day.

"Data from November brings further good news on Ireland's economic recovery," said Vision-net's Christine Cullen. "The fall in the number of insolvencies and increase in number of company and business start-ups are both strong signs of economic growth."

The hotel/restaurant industry remains vulnerable, she added.

Irish Independent

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