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Insolvencies increase 137% in first five months compared to same period in 2008
01 June 2009
Figures released today show that total insolvencies for the first five months of 2009 were 589, compared to 249 for Jan-May 2008 and 137 during the same 2007 period. This shows an increase of 137% from the 2008 five-month figures and a 330% increase from the 2007 data. Please click here to view graphs witth monthly analysis.
On a positive note, May 2009 total insolvencies were 99 in comparison to 121 for April a decrease of 18% and 145 for March a decrease 32%.
Breakdown of Jan-May 2009 insolvencies, 589:
• Creditors Voluntary Liquidation – 448
• Court Liquidation – 48
• Examinership – 28
• Receivership - 65
Top three worst hit industries:
• Construction: 184 companies – 31% of total insolvencies
• Hospitality: 84 companies – 14% of total insolvencies.
• Retail & Services both: 80 companies each –13% of total insolvencies.
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