Ireland’s accountancy landscape recorded 848 retail and hospitality insolvencies in 2025, down from 868 in 2024, though still above 736 in 2023, according to the latest PwC Insolvency Barometer.

On average, 204 insolvencies occurred per quarter since 2023.

“These steady figures highlight that, despite some quarterly fluctuations, insolvency levels remain consistent over the past three years,” PwC said. “This is as a result of Ireland’s recent robust economic performance and demonstrates the resilience of Irish businesses to navigate the many current macro-economic challenges.”

Retail sector insolvencies dropped 25% to 151 cases. “This sustained decline may reflect improved trading conditions, stronger consumer sentiment along with possible successful restructuring efforts within the sector,” PwC noted.

Hospitality recorded 141 insolvencies, down 8%, with 30 cases in Q4. PwC warned that inflation and costs keep the sector under close watch. VAT on food service will fall to 9% from 13.5% in July.

Across all insolvency types, court-appointed liquidations rose nearly 80% to 113 from 63 in 2024. PwC highlighted that the Revenue Commissioners initiated three out of every five petitions, reflecting “increased recovery efforts following the end of the debt warehousing scheme and a growing reliance on court enforcement.”

Court-appointed liquidations rose nearly 80% to 113, with Revenue initiating three of every five petitions. SCARP usage remained low, with 23 processes, while examinerships increased to 23 and receiverships rose 12% to 113. Creditor voluntary liquidations fell 13% to 576.

PwC’s modelling indicates a 1% rise in unemployment could trigger an additional 245 insolvencies. Unemployment rose from 4% in January 2025 to 4.9% in November, suggesting potential upward pressure on insolvency levels in 2026.

Explore the full report to assess sector risk and recovery trends for 2026.

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