Four companies shutdown every day in Ireland

Posted on Friday, December 03, 2010 at 01:52 AM

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A new survey reveals that four companies a day shut down in Ireland. The information was compiled over the last 11 months.

The construction industry had the largest amount of casualties with 419 companies going bust since January 2010. Altogether 1,392 companies in Ireland shutdown so far this year. This is a rise of 11 percent compared to 2009.

Ken Fennell, a partner in Kavanagh Fennell, the firm who compile the data, said "The figures indicate that as predicted yearly totals are heading for 1,500 and traditionally the last quarter is the most active for insolvency activity...Some high profile cases in the construction sector found themselves in difficulty and went out of business in November. Not surprising the construction sector continues to suffer the highest number of casualties."

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