Five firms went bust every day in May

Consumers and business people had 304 judgments worth almost €34m registered against them in court last month as creditors fought to get debts paid.

The latest figures were released by Vision-net and showed that, between May 1 and 28, five companies collapsed every day or a total of 150 companies collapsed over the month.

Of the firms declared insolvent, 109 were liquidated, 36 entered receivership, and examiners were appointed in five cases.