Business failures set to drop 24%

This year is expected to show a near 24% decline in the number of companies going out of business or needing court protection to survive.

New figures, published yesterday by corporate recovery and insolvency specialists, Kavanagh Fennell, showed that the level of business failure cases fell by 31% — on a year-on- year basis — in November, from 139 to 95,

The first 11 months of the year showed a 20% annualised decline to 1,236 cases.