Firms collapsing at record levels

THE number of firms that will collapse this year will hit levels never before seen in the State.

Liquidations for the first six months of this year are already 318% up on 2007 figures, according to InsolvencyJournal.ie, which notes there are now 27 insolvencies a week in Ireland.

In the first half of this year there were 702 insolvencies, a 129% increase on the same period last year. And the number has already exceeded the record number of 618 recorded in 1994.