Corporate insolvencies drop by 8%

The number of corporate insolvencies fell by 8% in the first nine months of the year when compared to the same period in 2013.

To the end of September this year, 942 corporate insolvencies were recorded; a reduction of 83 on the previous year’s figures.

Commenting on the results, Deloitte restructuring services partner, David Van Dessel said that while the lower-cost ‘examinership lite’ legislation introduced in December had yet to take off, he hoped to see it become a more viable option for struggling SMEs during the remainder of the year.