Insolvencies | Business Post

The Big Interview

Stephen Tennant, Grant Thornton: ‘I still see more opportunities in our financial services practice’

Grant Thornton’s incoming new chief executive on his dreams of playing professional football in Scotland, why Ireland’s economy is resilient, his goals for the firm and how a chance introduction brought him to Ireland

Fintech insolvencies rise as Irish start-ups run out of cash

With the tech funding market still in the doldrums, many Irish fintech companies are entering distress

Exclusive: ‘Perfect storm’ prompts dramatic rise in insolvencies

Insolvency rate is the highest in five years while the construction, nursing home, hospitality and services sectors are the worst affected

Revenue flexes its muscles as it halts €13m warehoused tax deal

Mac Interiors thought its examinership would succeed until the High Court came down on the side of the taxman

Inflation drives insolvencies up by 54% in year to Q3

185 insolvencies occurred from July to September, with Cork seeing the highest volume of new cases

Insolvency levels up 33 per cent this year – report

Business failures remain at historically low levels, according to PwC

Corporate insolvencies rise 30% year-on-year as figures return to pre-pandemic levels

Data released on Wednesday represents the highest quarterly level since early 2019

Insolvencies up 48% in first half of this year, report shows

Hospitality, construction and financial services sectors saw highest rates of bankruptcy

Friel Stafford acquired by agri-accounting specialists Ifac

The well-known Dublin firm specialises in corporate recovery, forensic accounting, and corporate finance

Insolvencies up 54% in first half of 2023

There were 321 failures in the first half of 2023 according to PwC’s insolvency barometer

Corporate insolvencies rise 22% in first quarter with 600 forecast for this year

Figures from Deloitte show 146 corporate insolvencies were recorded in Ireland in the first quarter of 2023

Prediction 1,000 Irish companies could go under in 2023 if global recession hits

A new study from PwC says business failures could cost the economy billions

Number of insolvencies to rise next year, says Isme boss

Despite the certainty that insolvencies among small firms will increase in 2023, Neil McDonnell says Isme is not in favour of supporting ‘zombie companies’ that can’t pay their way

‘Will we just have Michelin restaurants and bland coffee shops?’: Struggles of Irish hospitality

Skills shortages, rising costs of energy and ingredients, an impending Vat hike and dampened consumer confidence are a huge concern, with restaurants the most severely affected

Emergency measure extended to ensure companies are not wound up over €10,000 debts

The move comes as thousands of businesses struggle with issues such as supply backlogs and surging energy costs

Expert signals end to ‘corporate wonderland’ for failing firms

Graham Kenny, a partner at Eversheds-Sutherland, warns of a wave of insolvencies as state supports and creditor forbearance evaporate

Government moves to close bankruptcy repayment loophole

The Insolvency Service complained to the Department of Justice about an aspect of the legislation ‘being abused by practitioners and debtors’ to delay payments to creditors

Evidence of increasing insolvency rates, Central Bank deputy governor warns

Mark Cassidy’s comments come after the regulator last week said the Irish economy is entering a period of ‘considerable’ economic slowdown

Revenue gives struggling firms one week to clear debt

Companies one step away from enforcement action have been given seven days to pay tax debts or else face the sheriffs

Revenue may call in sheriffs to collect up to €500m of business debt

End of Covid-19 tax warehousing scheme has raised fears over viability of many firms