Economy
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
A perfect storm of rising interest rates, soaring energy and labour costs, and the axing of emergency state supports has led to a tsunami of business failures in 2023, the Business Post can reveal.
A wave of companies in the construction, nursing home, hospitality and services sector have hit the wall at a rate even higher than pre-Covid insolvency levels, new figures demonstrate.
Figures compiled by Deloitte show a total of 478 Irish businesses have ...