Business Barometer

83 Irish companies have been declared insolvent this June - down 26% on the same period last year.

An average of just over 3 companies per day were declared insolvent this June between the 1st and 23rd of the month - down from 112 insolvencies during the same period in 2014.

46% of these companies were based in Dublin. Meath and Cork accounted for the second and third highest number of insolvencies respectively (6 and 5).

The real estate sector was hardest hit and was responsible for approximately a fifth of the insolvencies recorded. It was followed by the wholesale & retail and professional services sectors. Between them, these three industries were responsible for over half the insolvencies this June.

There was better news for the construction and hospitality sectors which saw drops in insolvencies of 27% and 44% respectively.

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