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More than 1,500 firms went bust

EVERY week in 2010, 30 companies went bust in Ireland and the construction sector was the hardest hit.

A total of 472 construction companies collapsed within the year, with 279 insolvencies in the services sector.

More than 1,500 companies were declared insolvent during 2010, according to the statistics complied by insolvencyjournal.ie. As the recession continues to hit Irish companies, the increase of more than 8pc on the 2009 figure is in line with insolvencyjournal.ie predictions at the start of the year. Geographically, Leinster accounted for more than 65pc of all insolvencies, with Munster accounting for 21pc, Connaught 9pc and Ulster just 5pc.