Company failure rates tipped to rise on delayed reopening

The health of corporate Ireland will only be able to be taken mid-way through next year when most supports have been phased out

Deloitte expects it to be well into 2022 before an accurate picture of corporate health is seen.

The number of company insolvencies significantly declined in the first half of the year, but business failure rates are still expected to rise again on the back of a delayed full reopening of the economy and the eventual phasing out of government supports.

A total of 169 company insolvencies were recorded during the first six months of this year, according to data from Deloitte; that was down by 38% on the 273 company failures reported in the first half of 2020.