Belfast Telegraph

Insolvency risk to Northern Ireland's agriculture sector falls

By John Mulgrew

Northern Ireland's agriculture sector has witnessed a sustained decrease in the number of businesses at high risk of insolvency, a new report has said.

That's according to research by insolvency trade body R3.

The proportion of businesses considered at higher than normal risk of insolvency in the sector has decreased consecutively over the last five months.

It's dropped 4.2% in the last month alone.

The proportion of high risk businesses in July was 21.8% - down from 24.4% in February.

But despite the fall in risk to businesses within the industry, Northern Ireland's rate remains the second highest in the UK, just behind London.

Michael Neill, chairman of R3 and partner at Belfast law firm A&L Goodbody said it "is encouraging to see that the agriculture sector in this region has made good strides".

Belfast Telegraph