Vat cut 'unlikely to reduce' level of hospitality closures

Between January and March this year, there have been 213 corporate insolvency appointments — a  3% rise compared to last year

James Anderson of Deloitte Ireland said 'businesses in this sector are struggling with legacy debt issues, difficulty attracting and retaining staff, and high costs, in particular for energy'. 

Insolvencies in the hospitality sector declined during the first three months of the year by 27%, but the sector is expected to still experience a high level of closures this year and the Vat rate cut in July is “unlikely to reduce” them, a report from Deloitte has said.

Between January and March this year, there have been 213 corporate insolvency appointments — an increase of 3% compared to last year.