Deloitte: Insolvencies rise but no major shake-out from pandemic and rising interest rates    

Accountancy firm forecasts there will be a total of 600 insolvencies through 2023, up from 568 insolvencies before the onset of the pandemic in 2019

The latest Deloitte figures show the services part of the economy posted the largest number of insolvencies in the first three months.

The number of company insolvencies has jumped in the first three months of the year, but there is no sign of a delayed wave of corporate failures following the pandemic and despite surging inflation and increased borrowing costs, according to Deloitte.      

The accountancy firm said it had tracked 146 corporate insolvencies in the Republic in the first quarter of this year, up from the 120 insolvencies in the same quarter last year, but which was down from 152 insolvencies in the final quarter of 2022.