Economy
Business insolvencies surge to highest level in five years as interest rates and inflation bite
The latest figures from Deloitte Ireland show a sharp increase in business failures during 2023, particularly in the construction, hospitality and retail sectors
The number of corporate insolvencies in Ireland surged 25 per cent last year following a spike in business failures in the construction, hospitality and retail sectors, new figures show.
An analysis published by Deloitte Ireland, the financial services firm, shows a total of 663 companies went out of business in Ireland during 2023, which is up 25 per cent on the previous year and the highest level of corporate insolvencies in five years.
The ...
