Insolvencies in the hospitality sector declined during the first three months of the year by 27%, but the sector is expected to still experience a high level of closures this year and the Vat rate cut in July is “unlikely to reduce” them, a report from Deloitte has said. Within the services sector, financial services accounted for 29 insolvencies with holding companies accounting for 17. Deloitte said there are early indications that there were 30 retail sector insolvencies during the first quarter of the year. The hospitality sector has seen insolvencies decrease by 27% during the first quarter of this year to 24 compared to the same period last year. A Vat rate cut is unlikely to reduce insolvencies in this sector,” he said.

Source: Irish Examiner March 31, 2026 23:05 UTC