'No material increase' in business insolvencies following cessation of Debt Warehousing Scheme

SME liquidations remain the most common form of insolvency, accounting for 83% of all closures between April and June 2024

The report found that insolvencies were 25% higher for the first half of 2024 when compared to the same period last year, however, insolvencies dropped by more than 15% in the three months from April to June. 

The cessation of Revenue's Debt Warehousing Scheme has not led to any material increase in insolvencies, new research has found, alleviating fears of a tsunami of business closures following the end of many pandemic-era supports.

Twin reports from PwC and Deloitte found that insolvencies were 25% higher for the first half of 2024 when compared to the same period last year, however, PwC noted that insolvencies dropped by more than 15% in the three months from April to June.