The value of court judgements against Clare companies for the recovery of unpaid debt has risen by almost 500% in the last year.
It’s been revealed that there has been a significant rise in the number of companies declared insolvent in the second quarter of this year
In total, courts found against 11 Clare companies from April until June of this year in cases related to unpaid debts.
The total value of debts involved was 224,600 euro, up from 37,700 for the same period last year.
This amounts to a rise of 497 per cent.
552 companies nationwide fell foul of the courts in the three months concerned, up from 364 last year, with the average value of judgements reaching 25800 euro.
33% of judgements nationally were against construction companies, while the figures from ICC Information also reveal a high number of insolvencies in the manufacturing, retail and real estate sectors.
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