Number of business start-ups falls in April

New figures out today show a rise in business closures, a rise in unpaid debts and a decrease in business start-ups in April.

Some 195 companies – averaging just over 10 per day – were declared insolvent this month.

The figures - released by Visionnet.ie - also show that 148 companies commenced the winding up process.

The total liabilities of these companies come to €94m at their last balance sheet date.

Sectors particularly affected this month include the retail, hospitality and professional services companies.

April also saw a significant increase in the numbers of companies who had a receiver appointed – 62 in total, double the amount for April 2010.