Corporate insolvency trends ‘grim but holding’

CORPORATE insolvency trends are “grim but holding”, with the 1,090 for the first eight months of 2011 up 7% on the same period last year.

The latest figures from InsolvencyJournal.ie show construction, retail and services industries continue to dominate insolvency statistics. However, a 104% rise in wholesale industry insolvencies versus January-August 2010 also stands out.

There was a 22% decrease from July’s 152 insolvencies to August’s 119, but Ken Fennell of kavanaghfennell, the firm that compiles data for InsolvencyJournal.ie, is slow to read positives into that figure.