Drop in Wexford insolvencies

Published 09/06/2015 | 00:00

One Wexford business declared insolvent last month.
One Wexford business declared insolvent last month.

only one Wexford company was declared insolvent in May this year, compared to eight registered in the county during the same period last year.

Over the same period, five new 'wholesale and retail companies' started up, compared to three in May, 2014, and five companies listed as 'professional services' started up, down one on a year ago.

The figures were released by business and credit risk analyst Vision-net.ie, although the names of the start-ups and insolvent companies were not published.

Nationally, 3,653 company and business start-ups were recorded (or 135 each day), a 24 per cent rise on the same month in 2014. 59 per cent of all new registered business names were sole traderships.

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