The need for corporate restructuring in Ireland today Right now, though, an extraordinarily large number of firms in Ireland have been experiencing financial distress typically as a result of the deep domestic and (less deep but equally protracted) international downturn in demand, or because of their unwise property investments. An extended period of intensive corporate restructuring has begun.
This is most conspicuous for the big property development companies, but there are many others. Much of this restructuring has so far come through firm exit altogether. CSO surveys covering about half of the economy, and most of the non-agricultural business sector, throw some quantitative light on what’s been happening (Table 1).