There were 848 insolvencies recorded in 2025, according to the latest PwC Insolvency Barometer.
This was a slight decrease from 868 in 2024, but still higher than the 736 insolvencies in 2023.
PwC's analysis reveals an average of 204 insolvencies each quarter since the start of 2023.
These steady figures highlight that, despite some quarterly fluctuations, insolvency levels remain consistent over the past three years.
PwC said the consistent figures are a result of Ireland’s recent robust economic performance and demonstrates the resilience of Irish businesses to navigate the many current macro-economic challenges.
Ken Tyrrell, Business Recovery Partner, PwC Ireland, commented: "Despite geopolitical instability, inflation, interest rate variability and tariff changes in recent years, the Irish economy has continued to perform well, and is reflected in the current low and stable levels of corporate insolvencies.
"In particular, despite ongoing high costs, retail and hospitality continue to show reduced levels of insolvencies," he said.
PwC said an increasing unemployment rate corresponds to increasing levels of insolvency.
It said the analysis demonstrates that a 1% increase in the unemployment rate in Ireland correlates to a corresponding increase in the insolvency rate.
Statistically this means for every sustained 1% increase in the unemployment rate, PwC expects to see an additional 245 insolvencies.
The Irish unemployment rate increased from 4% in January to 4.9% in November and if this trend persists during 2026, based on PwC’s statistical analysis, PwC expects to see an increase in insolvency levels during the coming years.
"Our analysis shows that if Irish unemployment were to continue to increase, we will also likely see increasing insolvencies in the future.
"We cannot ignore ongoing global geopolitical risks and prevailing economic uncertainties and we will be closely monitoring insolvency levels as 2026 unfolds.
"Businesses should focus on their core strategies and cost bases while actively managing their working capital and cash positions to ensure that they are financially sustainable into the future."
The figures show that court appointed liquidations nearly doubled last year, up from 63 in 2024 to 113 in 2025.
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Retail still tops all sectors for insolvencies, with 151 cases in 2025.
However, this marks a 25% decrease from 201 cases recorded in 2024 with the downward trend continuing throughout 2025, averaging 38 cases per quarter compared to 50 in 2024.
Hospitality insolvencies were 8% lower in 2025 compared to 2024.
The sector recorded 141 insolvencies in 2025 which was slightly below the 154 insolvencies in 2024.
Notably, only six of the 141 cases involved accommodation businesses, highlighting resilience in that segment, while food and beverage activities continue to account for the vast majority of failures.
However, the report noted that persistent cost and inflation pressures mean the hospitality industry remains under close watch heading into 2026.
PwC said that a continued low uptake of SCARP indicates that the process is failing to meet its objectives.
There were only 23 SCARP processes started in 2025, down from 30 in 2024 and 33 in 2023, highlighting a decline from an already low baseline.
It also noted that while the use of SCARPs by SMEs has declined, 2025 saw a marked increase in Examinership activity, with 23 examinerships commenced.
That is more than double the 11 appointments recorded in 2024 and higher than the 18 in 2023.
Dublin, Cork, and Galway accounted for 70% of all insolvencies recorded in 2025, with Dublin alone responsible for more than half (55%).
