New statistics released today by InsolvencyJournal.ie reveal that the number of insolvencies recorded in the first half of 2010 has increased by 27 per cent

InsolvencyJournal.ie said there were 112 insolvencies recorded in May, down 26% from the 2010 high of 151 recorded in February.

THE NUMBER of insolvencies fell for the third consecutive month in May, although the rate of insolvencies is still 25 per cent higher than the same period last year, new data shows.

For the second year running, Kavanagh Fennell has scooped the Grad Ireland Best SME Recruiter award.

Four businesses went bust every day in April, according to InsolvencyJournal.ie, a website run by Dublin insolvency firm Kavanagh Fennell.

The number of insolvencies rose by 25% in the first three months of 2010 compared to the same time last year. New figures from Insolvencyjournal.ie says the number of cases rose from 320 to 402.

Systemhouse Technologies, an Irish technology security company, has collapsed, leaving debts of almost €2 million.

The High Court has appointed a provisional liquidator to a furniture company that is insolvent mainly due to the downturn in the retail trade.

The number of Irish companies going bust jumped by one-third in the space of a month to 145 in February as the effects of the 'Big Freeze' proved the final straw for many retailers.

Fewer companies went out of business in January 2010 then in December 2009, according to a new report by InsolvencyJournal.ie.