Six firms per day going bust

MORE that six companies are going bust every working day with 33 companies a week going out of business in the first three months of the year, according to Insolvency Journal.ie.

Statistics from the website shows the number of corporate insolvencies for the first three months is 396, down slightly down on last year’s first quarter total of 409.

Partner with KavanaghFennell, Ken Fennell, which compiles the data, said: “Figures for the first quarter are very much in line with expectations and we believe this level of insolvencies will continue throughout 2011, with our year-end predictions still not changed at in excess of 1,500 corporate failures.”