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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.