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Retail Intelligence

Retail/Wholesale Insolvencies Up 3% Year-On-Year In February (2)

The latest Business Barometer report from Solocheck has found that the number of insolvencies in the wholesale and retail sector was up 3% year-on-year in the month of February.

This compares with an overall decrease in Irish company insolvencies, which dropped 31% year-on-year. 93 Irish companies were declared insolvent between February 1st and 24th, the report stated, a decrease of close to a third from a year earlier.

The wholesale and retail sector accounted for 19% of company insolvencies recorded during the month, the highest proportion by sector.

The construction sector, meanwhile, showed the most improvement, accounting for 14% of the insolvencies recorded, down from 21.5% in the previous February.

An average of 50 new companies were set up each day in the month of February, resulting in a total of 1,214 companies for the month.

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