Increase In Businesses Becoming Insolvent In Co. Wexford

INCREASE IN BUSINESSES BECOMING INSOLVENT IN CO. WEXFORD

There’s been an increase in businesses becoming insolvent in the past year in County Wexford while company start-ups decreased slightly.

Meanwhile nationally figures for July 2014 show there was the highest number of new companies since pre-recession 2007.

According to the latest figures from vision-net dot ie – the credit and business risk analyist – last month County Wexford accounted for 4.2 per cent of all insolvent businesses and companies nationally.

This equates to 7 failures during the month.

Meanwhile in July 2013, Wexford’s share of insolvencies was 2.5 per cent – showing there’s been a year-on-year increase of 1.8 per cent.

In terms of start-ups, the picture for Wexford remains relatively the same when this year and last year are compared.

In July 2013, Wexford start-ups accounted for 2.7 per cent of all start-ups nationally, while in July 2014 it stood at 2.5 per cent – a small drop of 0.2 per cent.

Nationally company start ups rose by 11 per cent last month – the highest number of new companies since pre-recession 2007.

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