Saturday 17 August 2019

36 businesses in Wexford declared insolvent in first six months of 2012

A TOTAL of 36 County Wexford businesses were declared insolvent in the first six months of this year.

The figure is down just one on the number of collapsed companies in the first half of 2011.

The statistics released by the insolvency experts RSM Farrell Grant Sparks show an overall levelling out in insolvencies nationally.

A total of 1,063 companies in Ireland were placed in liquidation, examinership or receivership in the first half of 2012, compared to 963 for the same period last year.

County Wexford had the fifth highest number of insolvencies in the country after Dublin with 487, Cork (103), Limerick (63) and Galway (54).

Nationally, the property, construction and engineering sector was the worst hit with 475 collapses, followed by the retail sector with 164 and the restaurant and hotel sector with 92.

The ongoing decline in the property/construction sector is obvious from the statistics.

A total of 46% of all company failures happend in this line of business.

The retail sector was also badly hit, rising from 139 insolvencies in 2011 to 164 in 2012.

Increases in the number of insolvencies were recorded in Dubln, Cork, Tipperary and Limerick while there were significant reductions in Kildare and Wicklow.

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