Healthy firms are a prerequisite for a growing economy that creates jobs. Too many of even the surviving Irish firms have not yet recovered from the crash and need restructuring. Corporate failures in the last big downturn in Ireland Restructuring of distressed companies is not a new phenomenon in Ireland or anywhere else.
Reflecting on Ireland’s experience with corporate financial distress over the years, many resonant names come to mind. Companies fail in good times as well as bad times, but it is the downturns that see the vast bulk of corporate restructuring business. The last big downturn in Ireland was in the 1980s.