The former president of Ennis Chamber claims a “major increase in the cost of doing business” has resulted in a surge in insolvencies.
A new report published by Deloitte has found that Ireland had its highest number of corporate insolvencies since 2018 last year with 663 businesses finding themselves unable to pay their debts.
This is up 25% on 2022 and particularly affected the hospitality and construction industries, both of which saw a 62% rise in insolvencies while retail saw a 23% increase.
CEO of Retail Excellence and owner of Willow in Ennis Jean McCabe says increases in the likes of wage and energy bills have put the squeeze on business owners in the last few years.
You can listen to the full interview below.
