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

Published on Mar 7 2014 1:58 PM

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 a...

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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