|Report shows sharp decline in corporate failures||| Print ||
|Wednesday, 04 July 2007|
There was a sharp decrease in the number of corporate failure cases in the first half of this year, according to the latest figures released by FGS (formerly known as Farrell Grant Sparks). One hundred and forty four companies were placed in voluntary liquidation between January and June, which is 26% fewer than the 195 such cases in the same period last year and 31% lower than 2005.
Construction and engineering firms are still ranked at the top of the table, accounting for 37% of voluntary liquidations so far this year. However there has been some improvement in these sectors, with only 53 company failures this year as opposed to the 71 in 2006. The highest number of failures occurred in Dublin, with 41% taking place in the capital - a decrease of 7% - while counties Clare, Kildare and Wicklow have all seen increases in their number of failures.
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