2023 business failures increased 25% in Ireland, but insolvencies remain historically low and below pre-pandemic levels, with Scarp saving 600 jobs.
Irish officials have stated there is no clear evidence of an imminent "tsunami" of small business insolvencies despite a 25% increase in business failures in 2023. Insolvencies are still at historically low levels and below pre-pandemic levels, according to the Department of Enterprise. Since the pandemic, the Small Company Administrative Rescue Process (Scarp) has been used by businesses to restructure, saving around 600 jobs.
May 08, 2024
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