Insolvencies to reach close to 1,000 in 2024 – report

Retail, hospitality and construction made up over half of all insolvencies in 2023

Quarter four of 2023 had the highest quarter of insolvencies since the pandemic (Picture: Getty)

Insolvency levels are projected to reach almost 1,000 this year, according to new figures from PwC.

This would be closer to the average 20 year insolvency rate per year, the consultancy firm said.

Over the past 20 years, the average number of insolvencies per year is just over 1,000 a year. Ireland’s current insolvency rate per 10,000 companies is currently running at 25 per cent of the 2012 peak, according to PwC.

However, the numbers ...