Government Covid-19 supports could be concealing many businesses financial woes, one expert warned on Thursday, as figures showed company insolvencies fell in the first three months of the year.
Statistics published by accountants Deloitte show that 111 companies went through various insolvency procedures in the first quarter of this year, 30 per cent less than during the same period in 2020.
The firm suggested that the decline from the 159 company insolvencies recorded during the first quarter of last year was due to ongoing Government Covid-19 supports.
David Van Dessel, partner, financial advisory at Deloitte, said the pandemic crisis created a significant challenge for otherwise viable Irish companies.
He added that Government suppo…
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