Ireland recorded 212 business insolvencies in the first quarter this year, with the retail sector being the most impacted.
PwC’s Insolvency Barometer said the figure is broadly in line with recent quarterly averages of approximately 205 since the start of 2023 and said it continues the trend of remarkably stable insolvency numbers over the past three years.
The insolvency rate for the first three months, at 27 per 10,000 companies, is well below the long-term average of 49 per 10,000 businesses. Despite recent resilience, this stability is expected to be challenged as new cost pressures unfold, resulting from the crisis in the Middle East and wider geopolitical uncertainty.
The retail sector recorded the highest level of…