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23.07.2008
Haulage
insolvencies show four-fold increase
The latest insolvency figures to be released by FGS show a
dramatic increase in the number of corporate failure cases
for the first half of 2008 compared to last year, according
to financial advisory firm FGS. The haulage industry has not
been immune, with 12 companies going into liquidation in the
first six months of this year, an four fold increase on the
same period in 2007.
Voluntary Liquidation, High Court Liquidation, Receivership
or Examinership, up a staggering 76% on last year, which saw
177 corporate failures recorded in the same period. Notwithstanding
the ongoing uncertainty and negative sentiment being expressed
regarding the state of the Irish economy the figures are alarming
against a back drop of interest rate rises, increasing unemployment,
inflationary pressures, ongoing credit crunch etc, according
to FGS.
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