Tuesday August 11, 2020

Services sector closures on rise due to delayed recession ‘shock’

The services sector now accounts for 37 per cent of insolvencies in Ireland

2nd July, 2017

The recession may be over, but the services sector is being hit by “shockwaves” from the collapse which are leading to larger numbers of firms being shut down, new figures reveal.

According to research by Deloitte, the services sector now accounts for 37 per cent of insolvencies in Ireland, with 170 companies either entering examinership, receivership or liquidation in the first half of the year.

David van Dessel, Deloitte’s restructuring partner, said that the trauma...

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