4,500 businesses kept afloat with government supports during pandemic | Business Post

PwC estimated that there is currently a debt overhang of at least €10 billion. Picture: Getty

Almost 4,500 Irish businesses — or approximately 50 per week — were saved by government supports from going bust during the pandemic, with many likely requiring “additional support” to repair their balance sheets, according to a new report. Analysis conducted by PwC, the professional services firm, found that the overall insolvency rate was 14 per 10,000 companies in 2021, down 87 per cent from its peak in 2012.

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