There were 421 insolvencies in the first half of the year, according to new figures from PwC.
That is in line with the number for the first half of 2024 - despite an increase in activity in recent months.
Today's figures show there were 29 insolvencies per 100,000 businesses in the first half of the year. This is well below the 20 year average of 50 insolvencies per 100,000.
PwC said today's figures suggest that the Irish economy and Irish businesses continue to demonstrate resilience amid domestic challenges and international geopolitical uncertainties.
The new figures show the number of Retail insolvencies more than doubled to 53 in the second quarter of this year compared to the first quarter figure of 25.
PwC said that despite the apparent spike in the second quarter of the year, the total number of retail insolvencies for the first half of the year (78) is still slightly lower compared to the same time last year (84).
Meanwhile, the Hospitality industry recorded 35 insolvencies in the second quarter of 2025, a decrease of 19% from the 43 insolvencies recorded in the first three months of the year.
This level of hospitality insolvencies is closely in line with the average of 39 insolvencies per quarter observed across 2024 and the first quarter of 2025, which PwC said indicated a consistency within the industry due to ongoing macroeconomic and sector-specific challenges.
Dublin, Cork, Galway, Kilkenny and Meath account for three out of every four insolvencies for the quarter, with Dublin alone accounting for half of all insolvencies.
Today's report also shows a notable increase in examinerships in the second quarter of 2025, with 13 appointments recorded compared to just one in the first quarter.
Of the 13 companies, PwC noted that seven belonged to a single large group of related companies placed under high court protection, so a more accurate comparable figure is seven for the second quarter.
The Small Company Administrative Rescue Process (SCARP) continues to see limited uptake, PwC said.
14 SCARP cases were recorded in the first half of 2025, broadly in line with the 13 cases during the same period of 2024. SCARP cases accounted for just 3% of all insolvencies for the year to date, suggesting that while the process is now well established, its utilisation remains low, PwC added.
Ken Tyrrell, Business Recovery Partner, PwC Ireland, said the steadying of insolvencies over the six month timeline shows that the Irish economy and Irish businesses continue to demonstrate resilience amid domestic challenges and international geopolitical uncertainties.
But he said the ongoing global geopolitical risks and prevailing economic uncertainties can not be ignored and it remains to be seen what the remainder of the year has in store.
"Businesses and consumers also continue to deal with a higher cost base driven by domestic and international factors," he said.
"Organisations should continue to reinvent their businesses using AI and emerging technologies. They should focus on their core strategies, cost base and actively manage their working capital and cash positions to ensure that they are financially sustainable into the future," he added.
