Dr. Dermot Coates:

This is something we looked at in the midpoint of the year to get an idea of where the trend stood. For hospitality, which we can take as being the accommodation and food services sector as classified by the CSO, there were 613 corporations. That could be a hotel or a coffee stand; it runs the entire gamut. In the same period when there were those 613 corporations, we had 100 voluntary strike-offs and we had 55 liquidations. Those liquidations can be a mixture of court-led, creditor-led or voluntary liquidations. The ratio was approximately 1:4 in the first five months of the year.