Gareth Latimer, Director, Recovery and Reorganisation at Grant Thornton in Belfast commented:

“Overall, the statistics on insolvencies for the last three months of 2018, provide positive reading.

“Although the total number of company insolvencies during the period was slightly higher than the previous quarter, it was 18 per cent lower than the same period in 2017.

“This trend was matched by individual insolvencies which, while greater in number than the three months to September, were 4 per cent fewer than the final three months of the previous year.

“It remains the case that there has been no significant change in the levels of businesses and individuals becoming insolvent, in the years since the electorate voted to leave the European Union.

“However, given the economic uncertainty that still surrounds the Brexit process and the ongoing political impasse at Stormont, it will be interesting to see if these have a greater impact on the level of insolvencies during 2019.”