More than 2,000 jobs saved by examinership in 2016

More than 2,000 jobs were saved through examinations during 2016, new figures from Baker Tilly Hughes Blake show.

The largest number of jobs were saved in the third quarter when Debenhams successfully exited the examinership process, preserving 1,415 jobs in the UK retailer.

Neil Hughes, managing partner at Baker Tilly Hughes Blake, said that today a "blend of different companies" are availing of the examinership proces, including occasional large businesses which harken back to the type of firm which pioneered the process when it was first introduced in Ireland in the 1990s.

“Interestingly, we also see indigenous mid-market businesses benefitting from the process,” he said.

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Looking ahead to 2017, Mr Hughes said that the UK’s intention to withdraw from the European Union should not prevent Irish companies from seeking new growth opportunities.

“Mid-market firms that are relying on international markets to sustain their growth are vulnerable, as are companies which are located at the border with Northern Ireland. However, we cannot afford for Irish business to stay on the side-lines while all this is resolved, or we risk being left behind. The more companies can think globally and cast broadly for new opportunities, the better insulated we will be from turbulence in Europe,” said Mr Hughes.