30% decrease in level of corporate insolvencies

Updated / Thursday, 1 Apr 2021 15:14 The services sector recorded the highest number of corporate insolvencies in the first quarter of 2021 at 52 111 corporate insolvencies were recorded in Ireland in the first quarter of this year, according to the latest figures published by Deloitte. This represents a decrease of 30% from the same quarter in 2020, when 159 incidents were recorded. According to Deloitte, this lower level of insolvency activity is likely to be influenced by the measures introduced by the government to support struggling companies and their employees through the Covid-19 pandemic. David Van Dessel, Partner, Financial Advisory at Deloitte said the true level of "corporate distress" is likely to be concealed by the level of Government support available.