Business closures soar by 46%

BUSINESSES continued to struggle this month, with figures showing that the number of company closures soared by 46% while an average of €6.6 million was left unpaid in debt each day.

Figures released by company information site, vision-net.ie also show a drop in limited company start-ups in February.

This month 130 companies called meetings of creditors to wind up their businesses, an increase of 41 on the previous month. These meetings of creditors resulted in €133m of unpaid debt, averaging €6.6m for each working day.