The latest update from Kavanagh Fennell’s online insolvency publication, InsolvencyJournal.ie, shows that the predicted figure of 1,400 insolvencies in 2009 looks to become a reality, with 1,208 insolvencies now recorded for the first 10 months. The number of insolvencies for the first 10 months of the year represents a 112% increase over the same period in 2008 during which time 571 insolvencies were reported. When compared to the same period in 2007, it represents a fourfold increase with 295 insolvencies recorded. The findings show that from January to October construction has been the most severely impacted sector as a result of the economic downturn with 362 insolvencies recorded. This is followed by the retail sector with 187 insolvencies and the hospitality sector with 140 reflecting the impact of declining consumer spending. A high number of insolvencies have also been reported in the manufacturing sector (99) and the motor industry (48). In the month of October there were 114 insolvencies.