Issue 155 (Week ending 05/12/2012)

140 Irish companies failed between 1st and 27th November 2012 - an average of 5 companies per day. This figure is down 20% on the same period in 2011.

The majority of insolvent companies this November were liquidated (74%) with 24% going in to receivership and the remainder entering examinership.

Figures for the first 11 months of 2012 reveal a slight drop in insolvencies when compared to the same period in 2011. 1,763 firms have failed this year compared to 1,820 in 2011 - a drop of 3%.

Industries that were worst affected in November included Construction, Professional Services and Real Estate - between them these sectors accounted for 51% of closures.

In the run up to Christmas, Retailers made up a further 12% of insolvent companies but this figure does represent a 2% drop compared to 2011's figures.

Start-Ups

Figures for company start-ups in 2012 reveal that they are down 4% on the first 11 months of 2011 (12,884 v 13,368)

However, company closures have dropped by 7% (11,486 v 12,340), resulting in a slight expansion in the number of companies operating.

Judgments

A full review of judgments awarded in October '12 shows that creditors were awarded €23.4m by the courts for unpaid debts.

€19.6m of this total was awarded against consumers with the Revenue Commissioner and Banks receiving just over €14m between them.