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More firms facing closure in Republic

New data has shown a rise in the number of Irish businesses closing, as well as a decline in the number of start-ups in April.

According to figures released by Vision-net.ie, 195 companies in the Republic - an average of 10 per working day - were declared insolvent this month.

The business and risk information firm also found that 53% of companies who filed their accounts for 2010 or early 2011 were high risk - experiencing a decline in profits and/or cash flow and/or an over reliance on bank finance.