Company insolvencies set to hit 1,500 by end of the year

THE number of firms that went bust increased last month and the figure is expected to hit 1,500 by the end of the year.

According to figures from Insolvency Journal, 1,392 companies have gone out of business from January to November this year, an 11% increase on 2009 figures.

Last month the number of construction insolvencies rose following a low in October. There was a drop, however, in insolvency figures for retail and hospitality.