INSOLVENCIES

Corporate insolvencies could rise by 30% to more than 2,000 this year and personal insolvencies could “explode” this year according to Business Pro, the publisher of Stubbs Gazette.

The company told the Sunday Business Post the trend in bad debts was “ominous” and the media concentration on the banking crisis threatened to obscure the difficulties being experienced in the wider economy.

“We believe that corporate and personal insolvencies are poised to explode,” the publisher said. “As this process continues, even accelerates, we will see an explosion of court activity with judgments increasing rapidly both in terms of numbers and of unprecedented size.”