Issue 359 (Week ending 21/01/2019)

While the number of corporate insolvencies in 2018 were down on the previous year, it's vital that companies continue to remain vigilant and carry out regular assessments on their customers, potential clients and suppliers to minimise the potential of bad debts.

Our latest research shows that 23 Irish companies are scheduled to hold a Meeting of Creditors (MOC) to appoint a liquidator between today and the end of January 2019.

According to their latest sets of filed accounts with CRO, at the time of publishing, these companies owed their trade creditors a combined total of just over €2.8m.

16 of these companies are based in Dublin, with a further two in Galway and one apiece in Kerry, Louth, Meath, Wexford and Wicklow.

The manufacturing sector is worst affected with seven of the companies operating there. The professional services and wholesale & retail sectors are next on the list accounting for six and four insolvencies respectively.

Construction, hospitality, IT, motor, real estate and social & personal services are the remaining industries affected.

CRIF VisionNet's Credit Reports offer you an intuitive and user-friendly way of identifying potential issues, well ahead of time.

These reports are highly analytical and are currently predicting over 80% of corporate insolvencies approximately 6 months in advance on average.

Our credit reports are able to do this by utilising the very latest technology along with the key critical risk factors facing Irish businesses today, to continually monitor and evaluate every score every day (over 300 factors are analysed every day on every company).

To access Credit Checks on any company, business or individual you deal with today simply login to Vision-net.ie today. And if you'd like to know more about any aspect of our credit reports call us on Tel: +353 1 664 1111.