Increase in number of company failures - report

The number of company failures has increased significantly, according to a new report.

The number of company failures has increased significantly, according to a new report.

The figures, released by Irish financial advisory company FGS, show that the number of companies that have been placed in to liquidation by the High Court so far this year rose by 86%.

So far this year, 446 companies have been placed for voluntary or high court liquidation or examinership, compared to 256 companies by this time last year.

The construction sector was the worst affected, with 40% of the failures, while the hospitality sector, clothing and retail and motor industry were also affected.

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