Q1 insolvency figures show ‘resilient’ economy
Business-services firm PwC says that insolvencies in Ireland in the first three months of this year were broadly consistent with average figures over the past three years.
Its figures show that there were 212 business failures in the first quarter (Q1) – in line with the quarterly average of 205 recorded since 2023.
PwC’s quarterly Insolvency Barometer also found that there were 27 insolvencies per 10,000 companies in Q1 – well below the two-decade average of 50 and the peak of 100 in 2012.
Retail tops list
The firm says that the Irish economy has remained “remarkably resilient” despite global financial challenges, but warns that continuing political uncertainly and the recent energy crisis mean that insolvency levels may rise during the rest of the year.
The highest number of business failures during the quarter was in retail, with 50 insolvencies. This represented a 50% jump compared with the final quarter of last year.
The 32 insolvencies in the hospitality sector were broadly in line with recent quarterly figures, but its rate of 62 per 10,000 firms is more than double the average.
SCARP ‘underutilised’
There were six examinership appointments and seven SCARP advisor appointments in Q1, representing what PwC describes as “modest” increases for both processes on the preceding quarter.
PwC partner Ken Tyrrell said that, although there had been a slight uptick in Q1, the SCARP rescue process remained “significantly underutilised, with ongoing debate within the insolvency sector regarding its effectiveness and ultimate success as a restructuring tool for SMEs”.
Examinership, he added, had seen a significant increase in the last two years, from 11 appointments in 2024 to 25 in 2025.
'Lender patience'
There were only 12 corporate-receivership appointments recorded in the opening quarter of 2026 – a sharp fall of 65% compared with the same quarter last year.
According to Tyrrell, this suggests “an increase in lender patience and possible consideration being made for the current economic challenges facing companies”.
The PwC figures show that 24 liquidator appointments were made by the courts in the first three months of 2026 – largely in line with last year’s quarterly average in of 29 appointments. Revenue acted as petitioner in 13 of the 24 appointments.