Retail insolvencies trending 30% lower than last year

There has been an average of 204 insolvencies per quarter since January 2023.

Retail insolvencies so far this year have totalled 116 which is nearly 30% lower compared to 161 for the same period last year.

There have been 197 business insolvencies recorded during the period July to September this year with retail closures trending lower than last year and the hospitality sector showing signs of stabilisation, the latest Insolvency Barometer from professional services firm PwC shows.

During the first nine months of the year, there have been 641 insolvencies recorded with PwC forecasting total insolvencies for the year to be in the region of 850. In 2024, 868 insolvencies were recorded.