136% increase in firms going bust

THE number of firms going out of business soared by 136% in the first eight of months this year butexaminerships are out of favour with the courts.

Figures released yesterday also showed that receiverships increased last month as banks pursue an aggressive push to recoup outstanding money before loans are transferred to NAMA.

The fall in examinerships could indicate that courts may not want to approve petitions merely as a short-term get out of jail card for the company in question, according to the insolvency journal, which released the figures.