Ireland recorded 848 corporate insolvencies in 2025, according to the latest PwC Insolvency Barometer. While this figure is slightly lower than the 868 insolvencies reported in 2024, it remains higher than the 736 cases recorded in 2023, reflecting a stable trend in recent years.
PwC’s analysis shows an average of 204 insolvencies per quarter since 2023, indicating consistent levels despite quarterly fluctuations. The consultancy attributed the relative stability to Ireland’s strong economic performance and the resilience of businesses in navigating ongoing macroeconomic pressures.
“Despite geopolitical instability, inflation, interest rate changes, and shifting tariffs, the Irish economy has continued to perform well,” said Ken Tyrrell, Business Recovery Partner at PwC Ireland. “This is reflected in the low and stable levels of corporate insolvencies, particularly in retail and hospitality, where insolvency rates remain reduced despite high operating costs.”
The report also highlighted a strong link between unemployment and insolvencies. PwC found that a 1% rise in the unemployment rate typically corresponds to an additional 245 insolvencies. Ireland’s unemployment rate climbed from 4% in January to 4.9% in November, suggesting potential pressure on insolvency levels in 2026 if the trend continues. PwC urged businesses to focus on core strategies, cost management, and working capital to maintain financial sustainability.
Court-appointed liquidations nearly doubled last year, rising from 63 in 2024 to 113 in 2025. Retail remained the sector with the highest number of insolvencies, with 151 cases recorded, though this marked a 25% decrease from 201 in 2024. Quarterly figures for retail showed an average of 38 cases per quarter, compared with 50 in 2024.
The hospitality sector recorded 141 insolvencies, down 8% from 154 in 2024. Accommodation businesses showed particular resilience, with only six cases, while food and beverage operations accounted for most failures. Despite these improvements, PwC cautioned that ongoing inflation and cost pressures leave the sector vulnerable heading into 2026.
Use of the Small Companies Administrative Rescue Process (SCARP) remained very low, with only 23 new cases in 2025, down from 30 in 2024 and 33 in 2023. By contrast, examinerships saw a significant increase, with 23 commencements, more than double the 11 appointments in 2024 and higher than the 18 recorded in 2023.
Geographically, Dublin, Cork, and Galway accounted for 70% of all insolvencies, with Dublin alone responsible for 55% of cases, reflecting the concentration of corporate activity in these urban centres.
PwC said it will continue to monitor insolvency trends closely, urging businesses to maintain strong financial management and risk controls as Ireland faces ongoing economic uncertainties.
