With just a few business days to go, and based on creditors meetings advertised and petitions filed in court, business advisers PKF O'Connor, Leddy & Holmes expect there will be at least 463 insolvent liquidations by the end of the year compared with 426 in 2019.
Declan de Lacy from the firm said: "This is still a very low number by comparison with 2011 when 1,410 companies went into liquidation.
"This suggests that the Government's measures including wage supports, tax warehousing and subsidies for businesses closed by restrictions has been broadly successful."
As a result, there are hundreds and possibly even thousands of 'zombie' or insolvent companies still in operation which will not be viable once supports are pulled.