170 companies folded every month in 2011

APPROXIMATELY 170 Irish companies went bust every month in 2011, a new report shows.

Latest insolvency figures — published yesterday by business intelligence analyst, Vision-net — cover the first 11 months of 2011 and show that, during that timeframe, 1,930 Irish companies “failed” or went out of business; 20% more than was the case for the same period in 2010.

Last year’s failed companies also left behind almost €1.2 billion in unpaid unsecured debt, according to Vision-net.