Issue 373 (Week ending 20/05/2019)

After the drop in insolvency rates Ireland experienced last year, compared to 2017, figures held steady in Q1-2019. However, it's still vital that companies and individuals continue to remain vigilant and carry out ongoing tests on customers, potential clients and suppliers to help protect their business interests.

To highlight this, as of today, 19 Irish companies are scheduled to hold a Meeting of Creditors (MOC) to appoint a liquidator between today and the end of the month (22nd-31st May 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 under €5.5m.

Twelve (63%) of these companies are based in Dublin, with a further three in Meath, two in Cork and one each in Carlow and Galway.

The wholesale & retail sector is worst affected with seven of the companies operating there. The professional services sector accounts for a further six. The other affected industries are construction, hospitality, IT, manufacturing, real estate and social & personal services.

The Credit Reports on CRIF Vision-net.ie, 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 simply login to your account or contact our support team on Tel: +353 1 903 2660 or email helpdesk.vision-net@crif.com today.