Irish company failures decline 17% year-on-year in first quarter
However, statistics from Deloitte also show the 250 cases of corporate insolvency for the first quarter are up 13% on the final quarter of 2014. Despite the introduction of legislation making it more cost-effective for smaller firms to go down the examinership route if in need of court protection to safeguard their business, receiverships accounted for 22% of all insolvencies since the start of January, unchanged on the same period last year.
“An ongoing trend that we are observing in our analysis over the last number of quarters is that examinerships continue to remain at disappointingly low levels,” saod David Van Dessel of Deloitte’s restructuring services division.
