Steep fall in numbers of insolvent businesses

Insolvencies in some parts of the country have nosedived by more than 50% in the past month despite a quarterly nationwide increase, two reports indicate.

Data compiled by Vision-net.ie shows that Cork saw a 55% drop-off in insolvencies this month compared to the same period last year, while counties Dublin and Meath accounted for the highest proportions of insolvencies.

The decrease in Cork is more than twice that of the country as a whole, which had a reduction of 26%.