48% of firms showing signs consistent with business failure

[nexus]

A stress-test of about 35,000 companies carried out in the first three months of this year has found that almost half are showing signs consistent with business failure. Business information and risk agency Vision-net.ie says this is an increase of 10% on the previous year.

Vision-net.ie says that 16,800 firms (48%) are now in the high risk category and showing signs consistent with business failure. 4,500 or 13% of firms were late in filing their returns.

The research shows that 350 meeting of creditors to begin wind-up proceedings were published in the first quarter of 2011, up 10% on the previous quarter. March saw the biggest rise in notices being published.
It also reveals that companies that went out of business during the months of January to March left ?621m in unpaid debt. Over half of this debt is short-term and unsecured. The rest of the debt is long-term and is more likely to be money owned to Revenue and in bank loans.

Construction was again the hardest hit sector with 66 companies going out of business. Legal, accounting and architecture companies accounted for 56 companies, while 55 companies in the retail sector went under. Some of the notable companies in March included Total Fitness Holdings Ireland, Toni & Guy (Waterford) and Springmanor, which owns the Unicorn Restaurant.
Vision-net.ie says that 495 companies had a liquidator appointed in the first quarter with 340 of these companies now insolvent.

Receivers are up 54% on the previous quarter with over 155 firms having a receiver appointed in the three month period. Only ten applications to appoint an examiner were made, as the decline trend in the process continues.
Vision-net.ie's managing director Christine Cullen says the results of the survey are worrying. 'Insolvencies, liquidations, closures and unpaid debt are all up on the previous quarter. Our numbers are also signalling that the second quarter will see a further rise in liquidations,' she added.

She described the companies' debt troubles as 'a perfect storm'. 'As the need to be paid increases, the capacity to get paid is decreasing. To get over this difficulty, companies are seeking financial support but banks can't lend or are wary of lending for fear of accruing further bad debt,' she added.

http://www.rte.ie/news/2011/0404/vis...-business.html

[vdc]

[vc]

Ну блин, если открывать идиотские бизнесы ежу понятно, что они прогорят...
Я, честно говоря, мало вижу перспектив для индивидуалистов в Ирландии (если минималку не отменят, конечно, ну и социализм с ней )