Since the beginning of the recovery from the Covid-19 pandemic, there have existed two different insolvency regimes on the island of Ireland.
In 2024, there were 852 total insolvencies in the Republic, a 16% increase on 2023.
Some 305 companies in Northern Ireland declared insolvency in 2024, an almost 40% increase.
Of course, a portion of the explanation will always rest on the sizes of the respective jurisdictions, but Northern Ireland’s much stricter post-Covid insolvency procedures can also help us understand this discrepancy.
Insolvencies can be said to have risen dramatically in both jurisdictions in 2024, but they could also be said to be simply returning to pre-Covid figures.
Despite the Republic’s increase, their insolvency…
