Independent industry statistics released by InsolvencyJournal.ie reveal that corporate insolvency figures for the quarter ending September 2011 totalled 389 insolvencies, a decrease of 8 per cent from the Q2 2011 figures and a third consecutive monthly reduction.

Commenting on the figures Ken Fennell of kavanaghfennell, the firm who compile the data commented “Corporate insolvencies for the third quarter show a further reduction following on from Q2. Although the reduction is small it is a possible sign that the number of corporate insolvencies may have stabilised”

Total insolvencies for the year to date are 1,208 compared to 1,132 for the same period last year, a 7 per cent increase.

Receivership appointments for the third quarter totalled 68, but the number of appointments have dropped for a third month in a row. The Superquinn Group was the most high profile receivership noted during the third quarter.

“While receivership appointments remain high when compared to last year, we have seen a small but welcome reduction over the last few months”. Fennell commented.

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