There were 213 corporate insolvency appointments in the first three months of the year, according to analysis by Deloitte, a 3% rise compared to the same period last year.
Deloitte said early indications suggest retail sector insolvencies are up totalling 30, or 14% of insolvencies.
While hospitality insolvencies were down by 27% ahead of the scheduled VAT rate cut to 9% in July.
However the report said the hospitality sector is expected to continue to experience a high proportion of insolvencies for the remainder of 2026.
As Deloitte has previously stated, the VAT rate cut is unlikely to change this, as the challenges this sector face will continue, such as legacy debt issues, difficulty attracting and…