Friday 18 January 2019

Insolvencies dip 13pc

THERE was a significant drop in the number of companies that went out of business in the first month of the year.

A total of 96 businesses collapsed in January, a 13pc drop compared with the same month last year.

The figures from InsolvencyJournal.ie also show that the January figure was down by 28pc compared with December.

Construction continued to be the worst affected sector with 24 insolvencies or a quarter of the total in January. The number of manufacturing firms going out of business also dropped.

Ken Fennell, a partner with Kavanaghfennell, the firm which compiles the data, said that while the falls were welcome news, it was a little early to predict if the rate of insolvencies had peaked.

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