This article is from page 18 of the 2010-01-19 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 18 JPG
THE NUMBER of companies in Clare to find themselves on the rails has more than trebled in the last four years.
25 Clare companies went into re- celvership, examinership or liquida- tion in the year ended December 31, compared to seven during 2005.
The figures released by financial advisory firm, FGS show that just one in three examinerships were successful last year. One of the com- panies which rallied and stayed open with the aid of examinership was the Clare-based Lynch hotel group.
In all 1,570 Irish companies went into receivership, examinership or liquidation last year. The largest cas- ualties have been in the construction industry with 593 companies in this sector – 37 per cent of the total.
And most worrying is that the in- formation does not point to a slow- down as 28 per cent of the failures occurred in the last three months of 2009.