Insolvencies climb 'substantially' as businesses struggle with cost pressures

Small businesses are increasingly trying to restructure due to cost pressures including inflation and energy, in addition to trying to recover from the impact of the pandemic.

Irish businesses are struggling to battle economic headwinds as corporate insolvencies rose “substantially” during the first half of the year.

The total number of corporate insolvencies forecasted was 378, according to statistics published by professional services firm Deloitte. This is a 36% increase from the same period in 2021.