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West fares best as corporate insolvencies show 21 per cent decrease year-on-year

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Total corporate insolvencies for the first eight months of 2013 stands at 920 – a 21% drop when compared to last years’ total of 1,170 – according to the latest statistics published by www.InsolvencyJournal.ie,.

Total Company failures for the month of August this year stand at 108 compared to 126 in August last year, a drop of 14%.

Regionally, Leinster accounted for 60% of the 108 overall monthly total, with Dublin making up for 52% of all Leinster business failures. Munster followed with 31% of the overall total. Ulster and Connacht were the provinces least affected.

There was some good news for the construction sector, which has seen a 17% year on year drop in corporate insolvencies – from 282 construction business failures for the first eight months of 2012 compared to 234 recorded so far this year.

There were a total of 35 construction related business failures in August this year, up 14% compared to August 2012.

However, according to research from Ulster Bank, the construction sector saw tentative signs of recovery in July with new orders up for the first time in 19 months and house building edging back into positive territory.

The Ulster Bank Construction Purchasing Managers’ Index – a seasonally adjusted index designed to track changes in total construction activity – remained below the 50.0 no-change mark in July, but rose sharply to 47.5 from 43.4 in the previous month. This signalled a marked easing in the rate of decline in activity, with the latest fall the slowest since December 2011.

There was also some good news for the manufacturing sector which experienced a significant drop from 16 insolvencies recorded in August 2012 to 5 business failures in August 2013.

In addition data published by the Central Statistics Office, showed production in the industrial sector had grown by 1.2 per cent in July compared to June – meaning a year-on-year increase of 6.4 per cent.

Retail corporate insolvencies so far this year stand at 133, a 10% drop compared to the 149 recorded during the same period last year. Despite this positive year on year comparison, the overall KBC Ireland/ESRI Consumer Sentiment Index decreased to 68.2 in July, from 70.6 in June.

The motor industry has seen steady improvement with a 50% reduction in level of business failures from May to August this year. More than 11,500 new cars were sold in July following the introduction of the new 132 plate.

 

Connacht Tribune

Galway’s housing stock on the rise

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A total of 1,147 residential buildings were under construction in Galway as of June – according to the latest GeoView Residential Buildings Report.

Over half of the residential buildings under construction in Ireland in June 2021 were located in the Leinster region (58.4%), revealed the report which is published by GeoDirectory and EY Economic Advisory.

The Greater Dublin Area of Dublin, Meath, Kildare and Wicklow accounted for 35.6% of the total number of buildings under construction in the country. In contrast, the lowest levels of construction activity were recorded in Ulster (6.5%) and Connacht (10.6%).

In all, 1,182 new residential addresses in Galway were added to GeoDirectory’s nationwide database in the twelve months to June 2021.

At 30.8%, the highest proportion of the new residential address points were again located in Dublin, followed by Cork (10.8%), Kildare (9.7%) and Meath (5.7%).

In percentage terms, Leitrim (219.6%), Carlow (146.5%) and Roscommon (144%) registered the highest year-on-year growth in new address points, albeit from a previously low base.

The report also found that 9.5% of all residential stock in the state are apartments. In total, there were 194,898 apartment address points across the country in June 2021.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

Galway towns included in home support pilot

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Confirmation...Minister Anne Rabbitte.

Tuam, Athenry and Loughrea will form one of a select number of areas for a nationwide pilot scheme to see how to improve home support services for families in need of carers.

Minister for Disabilities and Galway East Deputy Anne Rabbitte confirmed that the Galway towns were among nine across the country to form part of a national Home Support Pilot Programme, which will commence next month.

The pilot scheme will deliver an additional 230,000 hours of Home Support services over a six-month period, with the evaluation of the outputs to continue over a twelve-month period from its commencement.

Minister Rabbitte described this as a major boost for Tuam, Athenry and Loughrea.

“This will deliver in-home supports across the three towns, which are in the heart of East Galway and I know from working with families across the constituency that this will be a major boost,” she said.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

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Connacht Tribune

Galway passengers are all smiles at Shannon!

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Shannon Airport
Shannon Airport

The smiles on the faces at Shannon Airport very much told its own story this week – with passengers taking to skies as the easing of restrictions and the first day of the European Digital COVID Certificates took effect.

And it wasn’t just the joy of travel starting to resume that lifted spirits at the airport but also the announcement by Ryanair of a new once-weekly service to Gran Canaria (Las Palmas) to commence on August 7 – the third new service announcement for Shannon Airport over recent weeks.

There was a real sense of excitement as passengers of all ages became very much at ease with the heightened public safety measures in a ‘back-to-the-future’ day for the West of Ireland gateway airport.

There were reunions as inbound flights arrived but also a palpable degree of anticipation as others got set to depart on the earliest flight out of the airport today, the 7:10am flight to Gatwick.

Among those boarding was Clarenbridge native Claire Tomlin and her husband Jake, together with their three children, including their twins who turn a year old next week.

“It’s been amazing to get back. The kids saw their grandparents for the first time and their cousins and aunties and uncles, so it was fantastic,” said Claire.

“Shannon is just so convenient for us because it’s only about 40 minutes’ drive. So, it just makes everything a lot easier in terms of getting to and from places with little ones. So, yeah, Shannon is a great resource for us. Really, really good. We hope to be able to go back more and more.”

It was smiles all around for Shannon Airport staff as they got back to doing what they do best. “Well, today is a great day because you can see the atmosphere around the place, people are at ease here and they’re glad to be back, they’re glad to get up in the sky again,” said Shannon Duty Free Sales Associate Helen Quinlivan.

“It’s great to see the excitement. People are really looking forward to going back and seeing their loved ones and they’re very at ease.”

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